ALISO VIEJO, Calif.,
Sept. 29, 2014 /PRNewswire/ --
Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today announced
the closing of its previously announced public offering of
20,930,000 shares of its common stock, including
2,730,000 shares sold pursuant to the underwriters' full
exercise of their option to purchase additional shares, at a price
to the public of $11.00 per share,
before underwriting discounts. J.P. Morgan, Deutsche Bank
Securities and BofA Merrill Lynch acted as joint book-running
managers for the offering. Piper
Jaffray and JMP Securities acted as co-managers for the
offering.
Gross proceeds from the offering are $230,230,000 before deducting underwriting
discounts and estimated offering expenses payable by Avanir. Avanir
intends to use the net proceeds from the public 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 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 filed with the SEC in connection with the
offering. The offering was conducted only by means of the
prospectus supplement and accompanying prospectus, copies of which
may be obtained 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
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.