News Column

Exelixis Posts Pricing of Overnight Offering of 10,000,000 Shares of Common Stock

January 28, 2014

Exelixis announced the pricing of its overnight underwritten public offering of 10,000,000 shares of newly issued common stock at a price to the public of $8.00 per share. According to a release, Exelixis also granted the underwriter a 30-day option to purchase up to an additional 1,500,000 shares of common stock in connection with the offering. All of the shares of common stock in the offering are being sold by Exelixis . Exelixis anticipates that its aggregate net proceeds from the offering will be $75.6 million after deducting the underwriting discount and estimated offering expenses payable by Exelixis (assuming no exercise of the underwriter's option to purchase additional shares). Exelixis noted it currently expects to use the net proceeds from the offering for general corporate purposes, including for clinical trials, research and development, capital expenditures and working capital. Cowen and Company is acting as underwriter for the offering. The offering is being conducted by means of a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) on Form S-3. Exelixis expects to close the offering on or about January 28 , subject to customary closing conditions. Exelixis is a biotechnology company. ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Manufacturing Close - Up


Story Tools