Clovis Oncology Announces Upsizing and Pricing of Public Offering of Common
BOULDER, Colo. -- June 11, 2013
Clovis Oncology (NASDAQ:CLVS) announced today the pricing of an underwritten
public offering of 3,333,334 shares of its common stock at $72.00 per share,
before underwriting discounts and commissions. The size of the offering was
upsized from $170 million to $240 million. In addition, the underwriters have
a 30-day option to purchase up to an additional 486,110 shares of common stock
from Clovis Oncology to cover over-allotments, if any.
The offering is expected to close on June 17, 2013, subject to customary
Clovis Oncology intends to use the net proceeds of the offering for general
corporate purposes, including funding of its development programs, general and
administrative expenses, acquisition or licensing of additional product
candidates or businesses and working capital.
J. P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are acting
as joint book-running managers for the offering, and Leerink Swann LLC is
acting as co-manager for the offering.
The shares of Clovis Oncology common stock described above are being offered
only by means of prospectuses and prospectus supplements pursuant to two
effective shelf registration statements previously filed with the Securities
and Exchange Commission. Copies of the final prospectus supplements, when
available, and related prospectuses concerning this offering may be obtained
from J. P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 or by calling toll-free (866) 803-9204
or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
One Madison Avenue, New York, NY 10010 or by calling toll-free (800) 221-1037
or emailing a request to email@example.com.
This press release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.
About Clovis Oncology
Clovis Oncology, Inc. is a biopharmaceutical company focused on acquiring,
developing and commercializing innovative anti-cancer agents in the U.S.,
Europe and additional international markets. Clovis Oncology targets
development programs at specific subsets of cancer populations, and
simultaneously develops diagnostic tools that direct a compound in development
to the population that is most likely to benefit from its use. Clovis Oncology
is headquartered in Boulder, Colorado, and has additional offices in San
Francisco, California and Cambridge, UK.
To the extent that statements contained in this press release are not
descriptions of historical facts regarding Clovis Oncology, they are
forward-looking statements reflecting the current beliefs and expectations of
management made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve substantial risks and uncertainties that could cause our actual
results, performance or achievements to differ significantly from those
expressed or implied by the forward-looking statements. Such risks and
uncertainties include, among others, the timing and size of the offering, the
conditions affecting the capital markets, general economic, industry, or
political conditions, and the satisfaction of customary closing conditions
related to the proposed public offering. Clovis Oncology undertakes no
obligation to update or revise any forward-looking statements. For a further
description of the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as well as
risks relating to the business of the company in general, see the prospectus
supplement and related prospectus for this offering as well as Clovis
Oncology’s Annual Report on Form 10-K for the year ended December31, 2012 and
its other reports filed with the Securities and Exchange Commission.
Anna Sussman, 303-625-5022
Breanna Burkart, 303-625-5023
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