XenoPort Announces Proposed Public Offering of Common Stock
January 21 2014 - 06:00AM
Business Wire
XenoPort, Inc. (Nasdaq: XNPT) announced today that it intends to
offer and sell 10,000,000 shares of its common stock, subject to
market and other conditions, in an underwritten public offering.
XenoPort also intends to grant the underwriters a 30-day option to
purchase up to a maximum of 1,500,000 additional shares of common
stock. All of the shares in the proposed public offering are to be
sold by XenoPort.
Credit Suisse Securities (USA) LLC is acting as sole
book-running manager for the offering. RBC Capital Markets, LLC and
Wells Fargo Securities, LLC are acting as co-managers.
A registration statement relating to the shares described above
was previously filed with, and has been declared effective by,
the Securities and Exchange Commission (SEC). A
preliminary prospectus supplement related to the offering has been
filed with the SEC and is available on the SEC's website
located at http://www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained from Credit Suisse Securities
(USA) LLC, Attention: Prospectus Department, One Madison
Avenue, New York, NY 10010, or by telephone at (800) 221-1037,
or by e-mail at newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the shares in any state or other jurisdiction 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 XenoPort
XenoPort, Inc. is a biopharmaceutical company focused on
developing and commercializing a portfolio of internally discovered
product candidates for the potential treatment of neurological
disorders.
Forward-Looking Statements
This press release contains "forward-looking" statements,
including, without limitation, all statements related to the
proposed offering. Any statements contained in this press release
that are not statements of historical fact may be deemed to be
forward-looking statements. Words such as “intends,” “proposed,”
"will" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
based upon XenoPort's current expectations. Forward-looking
statements involve risks and uncertainties. XenoPort's actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks
and uncertainties associated with market conditions, whether
XenoPort will offer the shares of common stock or be able to
consummate the proposed offering at the anticipated size and on the
anticipated terms, or at all, and the satisfaction of closing
conditions related to the proposed offering. There can be no
assurance that XenoPort will be able to complete the proposed
offering at the anticipated size or on the anticipated terms, or at
all. Regardless of whether the proposed offering is consummated or
the actual terms of the offering, if consummated, XenoPort will
continue to need additional funding and may be unable to raise
capital when needed, which would force XenoPort to delay, reduce or
eliminate its product development programs or commercialization
efforts. These and other risk factors related to XenoPort and its
business are discussed under the heading "Risk Factors" in
XenoPort's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2013, filed with the SEC on November 8, 2013, and in
the preliminary prospectus supplement related to the proposed
offering filed with the SEC on January 21, 2014. XenoPort expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in the company's expectations with
regard thereto or any change in events, conditions or circumstances
on which any such statements are based.
XNPT2F
XenoPortJackie Cossmon, 408-616-7220ir@XenoPort.com
Xenoport, Inc. (NASDAQ:XNPT)
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