Adverum Biotechnologies Announces Closing of $217 Million Public Offering of Common Stock
August 18 2020 - 9:00AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced the closing of its previously announced
underwritten public offering of 16,675,000 shares of its common
stock at a public offering price of $13.00 per share, which
included the full exercise of the underwriters’ option to purchase
up to an additional 2,175,000 shares of common stock. The gross
proceeds to Adverum before deducting underwriting discounts and
commissions and offering expenses payable by Adverum were
approximately $216.8 million.
Goldman Sachs & Co. LLC, Cowen and Company, LLC, SVB Leerink
LLC and Piper Sandler & Co. acted as joint book-running
managers for the offering.
The shares described above were offered by Adverum
Biotechnologies pursuant to a shelf registration statement on Form
S-3 that was previously filed by Adverum Biotechnologies with the
Securities and Exchange Commission (the “SEC”) on August 8, 2019,
and became automatically effective on that date. The final
prospectus supplement and accompanying prospectus relating to and
describing the terms of the offering was filed with the SEC on
August 13, 2020, and is available on the SEC’s website located at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus related to this offering may be
obtained from: Goldman Sachs & Co. LLC by mail at 200 West
Street, New York, NY 10282, Attention: Prospectus Department, by
telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com; Cowen and Company, LLC c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY,11717, Attn: Prospectus Department, by email at
PostSaleManualRequests@broadridge.com or by telephone at (833)
297-2926; SVB Leerink LLC, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA, 02110, by telephone at
1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com;
or Piper Sandler & Co., Attn: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone
at (800) 747-3924 or by email at prospectus@psc.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
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Adverum Biotechnologies, Inc.
Adverum Biotechnologies is a clinical-stage gene therapy company
targeting unmet medical needs in ocular and rare diseases.
INVESTOR & MEDIA CONTACT:
Investors:Myesha LacyAdverum Biotechnologies,
Inc.mlacy@adverum.com1-650-304-3892
Media:Cherilyn Cecchini, M.D.LifeSci
Communicationsccecchini@lifescicomms.com1-646-876-5196
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