Clovis Oncology Announces Proposed Offering of Common Stock
May 18 2020 - 4:02PM
Business Wire
Clovis Oncology, Inc. (NASDAQ:CLVS) announced today that it has
commenced an underwritten public offering of common stock.
Clovis Oncology intends to offer, subject to market and other
conditions, $85 million of shares of its common stock in an
underwritten registered public offering. In connection with this
offering, Clovis Oncology intends to grant to the underwriters a
30-day option to purchase up to an additional $12.75 million of
shares of its common stock on the same terms and conditions. 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 this offering
for general corporate purposes, including repayment, repurchase or
refinance of its debt obligations, sales and marketing expenses
associated with Rubraca® (rucaparib), funding of its development
programs, payment of milestones pursuant to its license agreements,
general and administrative expenses, acquisition or licensing of
additional product candidates or businesses and working
capital.
J. P. Morgan Securities LLC and BofA Securities are acting as
joint book-running managers for the offering.
The offering is subject to market and other 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.
The common stock is being offered pursuant to an effective shelf
registration statement that Clovis Oncology has filed with the
Securities and Exchange Commission (“SEC”). Before you invest, you
should read the prospectus in that registration statement and other
documents Clovis Oncology has filed with the SEC for more complete
information about Clovis Oncology and this offering. The offering
is being made only by means of a prospectus supplement and the
related prospectus. Copies of the prospectus supplement and related
prospectus may be obtained from J. P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by email to prospectus-eq_fi@jpmchase.com, or
from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by
calling 1-800-294-1322 or by email to
dg.prospectus_requests@bofa.com. You may also obtain these
documents free of charge when they are available by visiting EDGAR
on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities, in any state or jurisdiction in which such 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, with partners, for
those indications that require them, diagnostic tools intended to
direct a compound in development to the population that is most
likely to benefit from its use. Clovis Oncology is headquartered in
Boulder, Colorado with additional office locations in the U.S. and
Europe.
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. Words such as “believes,”
“anticipates,” “plans,” “expects,” “indicates,” “will,” “intends,”
“potential,” “suggests,” “assuming,” “designed,” and similar
expressions are intended to identify forward-looking statements.
Such forward-looking statements involve substantial risks and
uncertainties that could cause Clovis Oncology’s 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, including the impact
of the COVID-19 pandemic, 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, Quarterly
Reports on Form 10-Q and its other reports filed with the
Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20200518005708/en/
Anna Sussman 303.625.5022 asussman@clovisoncology.com Breanna
Burkart 303.625.5023 bburkart@clovisoncology.com
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