BOULDER, Colo.--(BUSINESS WIRE)--Jun. 10, 2013--
Clovis Oncology (NASDAQ:CLVS) announced today that it has commenced an
underwritten public offering of shares of its common stock to raise
aggregate proceeds of $170 million. All shares of the common stock to be
sold in the offering will be offered by Clovis Oncology.
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. In addition, Clovis
Oncology intends to grant the underwriters a 30-day option to purchase
up to an additional 15 percent of the number of shares sold to cover
over-allotments, if any. The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
This offering is being made by means of a prospectus supplement and
related prospectus. Copies of the prospectus supplement and related
prospectus relating to 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 newyork.prospectus@credit-suisse.com.
The shares are being offered pursuant to an effective shelf registration
statement. 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 December 31, 2012 and its other reports filed with the
Securities and Exchange Commission.
Source: Clovis Oncology
Clovis Oncology
Anna Sussman, 303-625-5022
asussman@clovisoncology.com
or
Breanna
Burkart, 303-625-5023
bburkart@clovisoncology.com