AveXis Announces Pricing of Initial Public Offering
February 10 2016 - 9:33PM
AveXis, Inc. (Nasdaq:AVXS), a clinical stage gene therapy company
developing treatments for patients suffering from rare and
life-threatening neurological genetic diseases, today announced the
pricing of its initial public offering of 4,750,000 shares of
common stock at an initial public offering price of $20.00 per
share, before underwriting discounts. In addition, AveXis has
granted the underwriters a 30-day option to purchase up to an
additional 712,500 shares of common stock at the initial public
offering price, less underwriting discounts and commissions. All of
the shares are being offered by AveXis. The shares are expected to
begin trading on The NASDAQ Global Select Market on February 11,
2016 under the ticker symbol "AVXS." The offering is expected to
close on February 17, 2016, subject to customary closing
conditions.
AveXis intends to use its existing cash and cash equivalents and
the net proceeds of the offering, expected to total $85.9 million,
to fund the ongoing Phase 1 clinical trial and future spinal
muscular atrophy trials of AVXS-101; for manufacturing activities
to support ongoing and future trials for AVXS-101, including the
establishment of the Company’s own manufacturing facility; and for
general corporate purposes and working capital.
Goldman, Sachs & Co. and Jefferies LLC are acting as joint
book-running managers. BMO Capital Markets Corp. is acting as lead
manager and Chardan is acting as co-manager of the offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
February 10, 2016. The offering will be made only by means of a
prospectus, copies of which may be obtained for free from the
offices of Goldman, Sachs & Co., Attention: Prospectus
Department, 200 West Street, New York, NY 10282; by telephone at
1-866-471-2526; or by email at prospectus-ny@ny.email.gs.com or
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at
1-877-547-6340; or by email at
Prospectus_Department@Jefferies.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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About AveXis, Inc. AveXis is a clinical-stage
gene therapy company developing treatments for patients suffering
from rare and life-threatening neurological genetic diseases. The
company’s initial proprietary gene therapy candidate, AVXS-101, is
in an ongoing Phase 1 clinical trial for the treatment of SMA Type
1.
Media Inquiries:
Lauren Barbiero
W2O Group
646-564-2156
lbarbiero@w2ogroup.com
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