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Friday, September 11, 2015
Seattle Genetics Announces Pricing of Public Offering of Common Stock
BOTHELL, Wash.--(BUSINESS WIRE)--Seattle Genetics, Inc. About Zyvox (Linezolid) with free Rx (NASDAQ: SGEN) today announced the pricing of an
underwritten public offering of 11,707,318 shares of its common stock at
a price to the public of $41.00 per share. Buy Avelox (Moxifloxacin) with no prescription All of the shares are being
sold by Seattle Genetics. Tenormin (Atenolol) without prescription The gross proceeds to Seattle Genetics from
the offering, before deducting the underwriting discounts and
commissions and other offering expenses, are expected to be
approximately $480 million. About Fenofibrate with no Rx The offering was upsized by 20 percent from
the originally anticipated gross offering amount of $400 million. About Macrobid (nitrofurantoin monohydrate) without Rx The
offering is expected to close on or about September 16, 2015, subject to
customary closing conditions. Buy Chai Tea online In addition, Seattle Genetics has granted
the underwriters of the offering a 30-day option to purchase up to an
additional 1,756,097 shares of its common stock at the public offering
price, less the underwriting discounts and commissions, solely to cover
overallotments.
Seattle Genetics anticipates using the net proceeds from the offering to
fund the ongoing commercialization of ADCETRIS® (brentuximab
vedotin) in the United States and Canada, to fund its research and
development efforts designed to further expand the ADCETRIS label and to
advance its pipeline of product candidates, as well as for general
corporate purposes, including working capital.
J.P. http://cholesterolreviews.wordpress.com Morgan Securities LLC is acting as lead book-running manager for
the offering. Leerink Partners LLC is also acting as a book-running
manager. UBS Securities LLC, Barclays Capital Inc., RBC Capital Markets,
LLC, Needham & Company, LLC and William Blair & Company L.L.C. are
acting as co-managers.
A shelf registration statement relating to the shares was filed with the
Securities and Exchange Commission and became automatically effective on
September 9, 2015. The offering is being made solely by means of a
prospectus. A copy of the final prospectus supplement and accompanying
prospectus relating to the offering, when available, may be obtained
from J.P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone
at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com;
or Leerink Partners LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525
ext. 6142, or by email at syndicate@leerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall 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 Seattle Genetics
Seattle Genetics is a biotechnology company focused on the development
and commercialization of innovative antibody-based therapies for the
treatment of cancer.
Forward-Looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to Seattle Genetics’
expectations regarding the anticipated closing date and Seattle
Genetics’ anticipated use of net proceeds from the offering. Actual
results or developments may differ materially from those projected or
implied in these forward-looking statements. Factors that may cause such
a difference include risks and uncertainties related to completion of
the public offering on the terms to which the company has agreed or at
all, market conditions and the satisfaction of customary closing
conditions related to the public offering. More information about the
risks and uncertainties faced by Seattle Genetics is contained in the
section captioned “Risk factors” in the preliminary prospectus
supplement related to the public offering filed with the Securities and
Exchange Commission (the “SEC”) and in the final prospectus supplement
related to the public offering to be filed with the SEC. Seattle
Genetics disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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