Biota Announces Full Exercise of Over-Allotment Option
January 14 2014 - 7:00AM
Biota Pharmaceuticals, Inc. (Nasdaq:BOTA) ("Biota" or the
"Company") today announced that Guggenheim Securities, LLC has
exercised its option to purchase an additional 872,085 common
shares to cover over-allotments in connection with the Company's
public offering of its common shares. The full exercise of the
over-allotment option increases the net proceeds to the company,
after underwriting discounts and commissions and estimated offering
expenses, from approximately $23.3 million to approximately $26.9
million. The Company intends to use the net proceeds from the
offering for working capital and general corporate purposes.
Guggenheim Securities, LLC is acting as sole book-running
manager. The offering is being made pursuant to a shelf
registration statement previously filed with the Securities and
Exchange Commission ("SEC") and declared effective on October 17,
2013. A final prospectus supplement relating to the offering was
filed with the SEC on January 10, 2014. Copies of the prospectus
supplement and the accompanying prospectus relating to these
securities may be obtained from Guggenheim Securities, LLC, 330
Madison Avenue, 8th Floor, New York, NY 10017, Attention: Equity
Syndicate Department, by telephone at (212) 518-9349 or by email to
GSEquityProspectusDelivery@guggenheimpartners.com. Electronic
copies of the prospectus supplement and the accompanying prospectus
are also available on the website of the SEC at
http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock of Biota,
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 Biota
Biota Pharmaceuticals, Inc. is a biopharmaceutical company
focused on the discovery and development of products to prevent and
treat serious and potentially life-threatening infectious diseases.
The Company currently has two Phase 2 clinical-stage product
candidates in development: laninamivir octanoate, a long-acting
neuraminidase inhibitor that the Company is developing for the
treatment of influenza A and B infections under an investigational
new drug application (IND) in the United States through a contract
with the U.S. Office of Biomedical Advanced Research and
Development Authority (BARDA) that is designed to provide up to
$231 million in financial support to complete its clinical
development; and vapendavir, a potent, oral broad spectrum capsid
inhibitor of enteroviruses, including human rhinovirus (HRV). In
addition to these clinical-stage programs, the Company has a
preclinical program focused on developing treatments for
respiratory syncytial virus (RSV). For additional information about
the Company, please visit www.biotapharma.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve known and unknown risks and uncertainties. All
statements, other than historical facts are forward-looking
statements. Various important factors could cause actual results,
performance, events or achievements to materially differ from those
expressed or implied by the forward-looking statements, including
risks relating to the completion of the public offering, including
the satisfaction of customary closing conditions and the use of
anticipated proceeds, and other cautionary statements contained
elsewhere in this press release and in the Company's Annual Report
on Form 10-K for the year ended June 30, 2013, as filed with the
SEC on September 27, 2013, and in the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2013, as filed with
the SEC on November 12, 2013.
There may be events in the future that the Company is unable to
predict, or over which it has no control, and the Company's
business, financial condition, results of operations and prospects
may change in the future. The Company may not update these
forward-looking statements more frequently than quarterly unless it
has an obligation under U.S. Federal securities laws to do so.
Biota® is a registered trademark of Biota Holdings Limited.
CONTACT: Russell H. Plumb
Chief Executive Officer
(678) 221-3351
r.plumb@biotapharma.com
Lee M. Stern
The Trout Group
(646) 378-2922
lstern@troutgroup.com
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