Clovis Oncology Announces Pricing of Public Offering of Common Stock
May 18 2020 - 8:05PM
Business Wire
Clovis Oncology, Inc. (NASDAQ:CLVS) announced today the pricing
of 11,090,000 shares of its common stock in an underwritten public
offering at a price to the public of $8.05 per share, before
underwriting discounts and commissions. Clovis Oncology also
granted to the underwriters a 30-day option to purchase up to an
additional 1,663,500 shares of its common stock on the same terms
and conditions.
The offering is expected to close on May 21, 2020, subject to
customary closing conditions. J. P. Morgan Securities LLC and BofA
Securities are acting as joint book-running managers for this
offering.
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.
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 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/20200518005773/en/
Anna Sussman 303.625.5022 asussman@clovisoncology.com
Breanna Burkart 303.625.5023 bburkart@clovisoncology.com
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