Onyx Pharmaceuticals Announces Pricing of Public Offering of Common
SOUTH SAN FRANCISCO, CA -- (Marketwire) -- 01/16/13 -- Onyx
Pharmaceuticals, Inc. (NASDAQ: ONXX) today announced the pricing of
an underwritten public offering of 4,400,000 shares of its common
stock. The gross proceeds to Onyx from this offering are expected to
be approximately $358,600,000, before underwriting discounts and
commissions and other estimated offering expenses payable by Onyx.
Onyx has also granted the underwriters a 30-day option to purchase up
to an additional 660,000 shares of common stock offered in the public
offering to cover overallotments, if any. The offering is expected to
close on or about January 22, 2013, subject to customary closing
conditions. Onyx intends to use the net proceeds from this offering
to fund its clinical development programs, research and development
activities, and sales and marketing activities to commercialize
Kyprolis around the world, and for general corporate purposes,
including working capital.
BofA Merrill Lynch and Barclays are acting as joint book-running
managers for this offering.
A registration statement relating to the shares described above was
previously filed with and has become effective by rule of the
Securities and Exchange Commission (the "SEC"). A final prospectus
supplement relating to the offering will be filed with the SEC and
will be available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus supplement and related prospectus, when
available, may be obtained from BofA Merrill Lynch, 222 Broadway, New
York, NY 10038, attention: Prospectus Department, or e-mail
email@example.com, or Barclays, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717 (telephone number 888-603-5847), or email
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Onyx Pharmaceuticals, Inc.
Based in South San Francisco,
California, Onyx Pharmaceuticals, Inc. is a global biopharmaceutical
company engaged in the development and commercialization of
innovative therapies for improving the lives of people with cancer.
The company is focused on developing novel medicines that target key
molecular pathways. For more information about Onyx, visit the
company's website at www.onyx.com.
This news release contains
"forward-looking statements" of Onyx within the meaning of the
federal securities laws. These forward-looking statements include
without limitation, statements regarding completion of the offering
and anticipated use of proceeds. These statements are subject to
risks and uncertainties that could cause actual results and events to
differ materially from those anticipated, including risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering. There
can be no assurance that Onyx will be able to complete the public
offering on the anticipated terms, or at all. Additional risks and
uncertainties relating to Onyx can be found under the heading "Risk
Factors" in Onyx's Annual Report on Form 10-K for the year ended
December 31, 2011 and subsequent Quarterly Reports on Form 10-Q, as
filed with the SEC, and in the prospectus supplement related to the
offering to be filed with the SEC. Readers are cautioned not to place
undue reliance on these forward-looking statements that speak only as
of the date of this release. Onyx undertakes no obligation to update
publicly any forward-looking statements to reflect new information,
events, or circumstances after the date of this release except as
required by law.
Vice President, Public Affairs
Senior Director, Investor Relations
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