Infinity Announces Pricing of Secondary Offering of Common Stock

  Infinity Announces Pricing of Secondary Offering of Common Stock

Business Wire

CAMBRIDGE, Mass. -- April 11, 2013

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) today announced the pricing of
an underwritten public offering of its common stock by existing shareholders
Beacon Company and Rosebay Medical Company L.P., including shares that were
transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company
of Beacon and Rosebay, at a public offering price of $40.00 per share. The
aggregate size of the offering is 10,000,000 shares, with 5,000,000 shares of
common stock offered by Beacon, and 5,000,000 shares of common stock offered
by Rosebay. The selling shareholders have also granted the underwriters an
option for 30 days to purchase from the selling shareholders up to an
additional 1,416,565 shares to cover over-allotments, if any. Assuming closing
of this offering and assuming that the over-allotment option is not exercised,
Beacon, Rosebay and Purdue collectively own an aggregate of 2.96% of
Infinity’s outstanding common stock. The offering is expected to close on or
about April 16, 2013, subject to the satisfaction of customary closing
conditions. Infinity will not sell any shares or receive any proceeds from the
offering, and the total number of shares of its outstanding common stock will
not change as a result of the offering.

The joint book-running managers for the proposed offering are Morgan Stanley &
Co. LLC and J.P. Morgan Securities LLC.

A shelf registration statement (including a prospectus and preliminary
prospectus supplement) relating to the offering of the shares of common stock
has previously been filed with the Securities and Exchange Commission and has
become effective. Before investing, you should read the prospectus, the
preliminary prospectus supplement, the final prospectus supplement, when
filed, and other documents filed by the Company with the Securities and
Exchange Commission for information about the Company and the offering. Copies
of the prospectus and related preliminary prospectus supplement and final
prospectus supplement, when filed, relating to this offering may be obtained
free of charge by visiting the Securities and Exchange Commission's website at
www.sec.gov, or by contacting:

                              
Morgan Stanley & Co. LLC         J.P. Morgan Securities LLC
Attn: Prospectus Department      c/o Broadridge Financial Solutions
180 Varick Street, 2nd Floor     1155 Long Island Avenue
New York, NY 10014               Edgewood, NY 11717
Phone: 866-718-1649              Phone: 866-803-9204
Email:
prospectus@morganstanley.com


                                 

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the securities in this offering, 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 Infinity Pharmaceuticals, Inc.

Infinity is an innovative drug discovery and development company seeking to
discover, develop and deliver to patients best-in-class medicines for diseases
with significant unmet need. Infinity combines proven scientific expertise
with a passion for developing novel small molecule drugs that target emerging
disease pathways. Infinity’s programs focused on the inhibition of
phosphoinositide-3-kinase and heat shock protein 90 are evidence of its
innovative approach to drug discovery and development.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that are based on current
expectations, forecasts and assumptions that involve risks and uncertainties.
Forward-looking statements include statements regarding Infinity’s
expectations, beliefs, intentions or strategies regarding the future, and can
be identified by forward-looking words such as “anticipate,” “believe,”
“could,” “continue,” “estimate,” “expect,” “intend,” “may,” “should,” “will”
and “would” or similar words. Forward-looking statements in this press release
include, without limitation, statements regarding the completion of the
offering. Important factors could cause actual results to differ materially
from these forward-looking statements, including market conditions as well as
risks and uncertainties associated with Infinity’s business, including those
risks and uncertainties described in “Risk Factors” in Infinity's preliminary
prospectus supplement and in “Risk Factors” and elsewhere in Infinity’s annual
report on Form 10-K for the year ended December 31, 2012, each of which has
been filed with the SEC, as well as in other filings that Infinity
periodically makes with the SEC. Any forward-looking statements contained in
this press release speak only as of the date hereof, and Infinity anticipates
that subsequent events and developments will cause its views to change. While
Infinity may elect to update these forward-looking statements at some point in
the future, Infinity expressly disclaims any obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise.

Contact:

Infinity Pharmaceuticals, Inc.
Jaren Irene Madden, 617-453-1336
Jaren.Madden@infi.com
http://www.infi.com
 
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