SEATTLE, Jan. 29, 2015 /PRNewswire/ --Omeros Corporation
(NASDAQ: OMER) today announced that it has priced an underwritten
public offering of 2,995,506 shares of its common stock at a per
share price to the public equal to $20.03, and pre-funded warrants to purchase up to
749,250 shares of its common stock, at a per warrant price to the
public equal to $20.02. The
pre-funded warrants have a term of seven years and an exercise
price of $0.01 per share. Total gross
proceeds, including the approximately $15
million to be received on the pre-funded warrants, will be
approximately $75 million. The net
proceeds from this offering, after deducting the underwriters'
discounts and other estimated offering expenses, will be
approximately $70.6 million. Omeros
has also granted the underwriters a 30-day option to purchase up to
an additional 449,325 shares of common stock to cover
overallotments, if any, which would result in additional gross
proceeds of approximately $9 million
if exercised in full. The offering is expected to close on or
about February 3, 2015, subject to
customary closing conditions.
Omeros intends to use the net proceeds of the offering for
general corporate purposes, including expenses related to the
commercialization of Omidria™, research and development expenses,
such as funding clinical trials, preclinical studies, manufacturing
development and costs associated with otherwise advancing the
company's drug candidates toward New Drug Application submission.
Omeros may also use the net proceeds for working capital, the
repayment of debt obligations, acquisitions or investments in
businesses, products or technologies that are complementary to its
own, and other capital expenditures.
Cowen and Company, LLC acted as the sole book-running manager
for the offering.
Wedbush PacGrow Life Sciences acted as co-lead manager. Needham
& Company, LLC, WBB Securities LLC, Maxim Group LLC and MLV
& Co. LLC acted as co-managers.
A registration statement on Form S-3 relating to these
securities was filed with the Securities and Exchange Commission
and was automatically effective. The securities may be offered only
by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. A
preliminary prospectus supplement related to the offering was filed
with the Securities and Exchange Commission on January 28, 2015. An electronic copy of the
preliminary prospectus supplement and accompanying prospectus
relating to the offering is available on the website of the
Securities and Exchange Commission at www.sec.gov. Copies of
the final prospectus supplement and accompanying prospectus
relating to the offering may be obtained, when available, from
Cowen and Company, LLC (c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY,
11717, Attn: Prospectus Department, Phone: 631-274-2806, Fax:
631-254-7140).
This press release does not constitute an offer to sell or
the solicitation of an offer to buy any securities of Omeros, and
shall not constitute an offer, solicitation or sale of any security
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 Omeros Corporation
Omeros is a biopharmaceutical company committed to discovering,
developing and commercializing small-molecule and protein
therapeutics for large-market as well as orphan indications
targeting inflammation, coagulopathies and disorders of the central
nervous system.
Forward-looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which are
subject to the "safe harbor" created by those sections for such
statements. All statements other than statements of
historical facts are forward-looking statements. Terms such as
"anticipate," "believe," "could," "estimate," "expect," "goal,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," "will," "would," and similar expressions and variations
thereof are intended to identify forward-looking statements, but
these terms are not the exclusive means of identifying such
statements. Forward-looking statements are based on
management's beliefs and assumptions and on information available
to management only as of the date of this press release. Omeros'
actual results could differ materially from those anticipated in
these forward-looking statements for many reasons, including,
without limitation, risks associated with Omeros' ability to begin
U.S. commercial sales of Omidria™ (OMS302) in early
2015, Omeros' ability to obtain regulatory approval for its
Marketing Authorization Application in the EU for the
commercialization of Omidria, Omeros' unproven preclinical and
clinical development activities, regulatory oversight, product
commercialization, intellectual property claims, competitive
developments, litigation, and the risks, uncertainties and other
factors described under the heading "Risk Factors" in the company's
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission on November 10,
2014. Given these risks, uncertainties and other factors, you
should not place undue reliance on these forward-looking
statements, and the company assumes no obligation to update these
forward-looking statements, even if new information becomes
available in the future.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/omeros-prices-75-million-public-offering-of-common-stock-and-pre-funded-warrants-300027757.html
SOURCE Omeros Corporation