BOULDER, Colo.--(BUSINESS WIRE)--Jun. 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
closing conditions.
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 newyork.prospectus@credit-suisse.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 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