ALISO VIEJO, Calif.,
Sept. 22, 2014 /PRNewswire/ --
Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today announced
that it is offering to sell $200
million of its common stock in an underwritten public
offering. J.P. Morgan, Deutsche Bank Securities and BofA
Merrill Lynch are acting as joint book-running managers for the
offering. Avanir intends to grant the underwriters a
30-day option to purchase additional shares of its common stock.
All of the shares to be sold in the offering are being sold by
Avanir. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the offering.
Avanir intends to use the net proceeds from the underwritten
offering for general corporate purposes, which include, but are not
limited to, funding NUEDEXTA commercial activities, funding our
ongoing and future clinical trials, funding the commercial launch
of AVP-825, if approved, and for general and administrative
expenses. We may also use a portion of the net proceeds to pay off
outstanding indebtedness, if any, and/or acquire or invest in
complementary businesses, products and technologies or to fund the
development of any such complementary businesses, products or
technologies that we may acquire in a stock-based acquisition.
A shelf registration statement relating to the shares of common
stock to be issued in the offering has been filed with the
Securities and Exchange Commission (the "SEC") and became
automatically effective on September
22, 2014. The specific terms of the offering are
described in a prospectus supplement to be filed with the SEC in
connection with the offering. The offering will be made only
by means of the prospectus supplement and accompanying prospectus,
copies of which may be obtained (when available) at the SEC's
website at www.sec.gov, or by contacting: J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, phone: (866) 803-9204; Deutsche Bank Securities, Attention:
Prospectus Department, 60 Wall Street, New York, NY 10005-2836, e-mail:
prospectus.cpdg@db.com, phone: (800) 503-4611; or BofA Merrill
Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, email:
dg.prospectus_requests@baml.com.
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 other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction.
About Avanir Pharmaceuticals, Inc.
Avanir Pharmaceuticals, Inc. is a biopharmaceutical company focused
on bringing innovative medicines to patients with central nervous
system disorders of high unmet medical need. As part of our
commitment, we have extensively invested in our pipeline and are
dedicated to advancing medicines that can substantially improve the
lives of patients and their loved ones.
AVANIR® is a trademark or registered trademark of Avanir
Pharmaceuticals, Inc. in the United
States and other countries.
©2014 Avanir Pharmaceuticals, Inc. All Rights Reserved.
Forward Looking Statements
Except for the historical information contained herein, the
matters set forth in this press release, including statements
regarding the anticipated public offering, are forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including the
risks and uncertainties associated with market conditions and the
completion of the public offering on the anticipated terms or at
all, obtaining additional indications for commercially marketed
products domestically and internationally, obtaining and
maintaining regulatory approvals domestically and internationally,
whether new drugs can be successfully commercialized, and other
risks detailed from time to time in the Company's most recent
Annual Report on Form 10-K and other documents subsequently filed
with or furnished to the SEC. These forward-looking statements are
based on current information that may change and you are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and the Company undertakes no obligation to
revise or update any forward-looking statement to reflect events or
circumstances after the issuance of this press release.
Avanir Investor & Media Contact
Ian Clements, PhD
ir@avanir.com
+1 (949) 389-6700
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SOURCE Avanir Pharmaceuticals, Inc.