NEW YORK--(BUSINESS WIRE)--
Ophthotech Corporation (NASDAQ:OPHT) announced today the pricing of an
underwritten public offering of 2,285,714 shares of common stock at a
public offering price of $31.50 per share, before underwriting
discounts. Of the shares in the offering, 1,900,000 shares are being
sold by Ophthotech, and 385,714 shares are being sold by certain
stockholders of the company. In addition, these selling stockholders
have granted the underwriters of the offering an option for a period of
30 days to purchase up to an additional 342,857 shares of the company’s
common stock at the public offering price, less the underwriting
discount. Ophthotech will not receive any proceeds from the sale of
shares by the selling stockholders.
Morgan Stanley and J.P. Morgan are acting as joint book-running managers
for the offering. Leerink Partners and Stifel are acting as co-managers.
The offering is expected to close on or about February 18, 2014, subject
to customary closing conditions. A registration statement relating to
these securities was declared effective by the Securities and Exchange
Commission on February 11, 2014.
The offering is being made only by means of a prospectus, copies of
which may be obtained from Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014; and J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.
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 state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or jurisdiction.
Ophthotech is a biopharmaceutical company specializing in the
development of novel therapeutics to treat diseases of the eye, with a
focus on developing therapeutics for age-related macular degeneration.
The company has initiated a pivotal Phase 3 clinical program for its
most advanced product candidate, Fovista™ anti-PDGF therapy, which it is
developing for use in combination with anti-VEGF drugs that represent
the standard of care for the treatment of wet age-related macular
Vice President, Investor Relations and Corporate
Source: Ophthotech Corporation