Adaptimmune Therapeutics plc Prices Public Offering of American Depositary Shares
March 22 2017 - 10:01AM
PHILADELPHIA and OXFORD, United
Kingdom, March 22, 2017 (GLOBE NEWSWIRE) -- Adaptimmune
Therapeutics plc ("Adaptimmune")(Nasdaq:ADAP), a leader in T-cell
therapy to treat cancer, today announced the pricing of an
underwritten public offering of 14,300,000 of its American
Depositary Shares ("ADSs") at a price to the public of $4.20 per
ADS. In connection with the offering, Adaptimmune has granted the
underwriters a 30-day option to purchase up to an additional
2,145,000 ADSs at the public offering price. The gross offering
size for this offering is expected to be approximately $ 60.1
million, excluding any exercise of the underwriters' option to
purchase additional ADSs. All ADSs in this offering are being sold
by Adaptimmune with net proceeds to be used to advance the
company's wholly-owned pipeline of SPEAR® T-cell candidates through
clinical trials as well as for other general corporate purposes.
This offering is expected to close on or about March 27, 2017,
subject to customary closing conditions.
Citigroup, Cowen and Company and Leerink Partners
are acting as joint book-running managers for the offering.
Guggenheim Securities is acting as lead-manager.
A shelf registration statement on Form S-3
relating to the public offering of the ADSs described above was
declared effective by the Securities and Exchange Commission
("SEC") on September 12, 2016. The offering was made only by means
of a written prospectus and prospectus supplement that form a part
of the registration statement. A preliminary prospectus supplement
relating to and describing the terms of the offering has been filed
with the SEC and is available on the SEC's web site
at www.sec.gov. Copies of the final prospectus supplement and
accompanying prospectus relating to these securities may also be
obtained by sending a request to: Citigroup Global Markets Inc.,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: 1-800-831-9146, Cowen and Company,
LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn: Prospectus Department, or by calling
(631) 274-2806 or Leerink Partners LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110,
email: Syndicate@Leerink.com, telephone: 1-800-808-7525, ext.
6132.
This press release does not constitute an offer to
sell or the solicitation of an offer to buy any of these
securities, nor will there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale is not permitted.
For readers in the European
Economic Area
In any EEA Member State that has implemented the Prospectus
Directive, this communication is only addressed to and directed at
qualified investors in that Member State within the meaning of the
Prospectus Directive. The term "Prospectus Directive" means
Directive 2003/71/EC (and amendments thereto, including Directive
2010/73/EU, to the extent implemented in each relevant Member
State), together with any relevant implementing measure in the
relevant Member State.
For readers in the United
Kingdom
This communication, in so far as it constitutes an invitation or
inducement to enter into investment activity (within the meaning of
s21 Financial Services and Markets Act 2000 as amended) in
connection with the securities which are the subject of the
offering described in this press release or otherwise, is being
directed only at (i) persons who are outside the United Kingdom or
(ii) persons who have professional experience in matters relating
to investments who fall within Article 19(5) ("Investment
professionals") of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") or (iii) certain
high value persons and entities who fall within Article 49(2)(a) to
(d) ("High net worth companies, unincorporated associations etc")
of the Order; or (iv) any other person to whom it may lawfully be
communicated (all such persons in (i) to (iv) together being
referred to as "relevant persons"). The ADSs are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such ADSs will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
About
Adaptimmune
Adaptimmune is a clinical-stage biopharmaceutical company focused
on the development of novel cancer immunotherapy products. The
Company's unique SPEAR® (Specific Peptide Enhanced Affinity
Receptor) T-cell platform enables the engineering of T-cells to
target and destroy cancer, including solid tumors. Adaptimmune has
a number of proprietary clinical programs, and is also developing
its NY-ESO SPEAR T-cell program under a strategic collaboration and
licensing agreement with GlaxoSmithKline. The Company is located in
Philadelphia, USA and Oxfordshire, U.K.
Forward-Looking
Statements
This release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 (PSLRA). These forward-looking statements involve certain
risks and uncertainties. Such risks and uncertainties could cause
our actual results to differ materially from those indicated by
such forward-looking statements, and include, without limitation:
the success, cost and timing of our product development activities
and clinical trials and our ability to successfully advance our TCR
therapeutic candidates through the regulatory and commercialization
processes. For a further description of the risks and uncertainties
that could cause our actual results to differ materially from those
expressed in these forward-looking statements, as well as risks
relating to our business in general, we refer you to our Annual
Report on Form 10-K filed with the Securities and Exchange
Commission (SEC) on March 13, 2017, and our other SEC filings. The
forward-looking statements contained in this press release speak
only as of the date the statements were made and we do not
undertake any obligation to update such forward-looking statements
to reflect subsequent events or circumstances.
Adaptimmune Contacts
Investor Relations
Will Roberts
T: (215) 825-9306
E: will.roberts@adaptimmune.com
Juli P. Miller, PhD
T: (215) 825-9310
E: juli.miller@adaptimmune.com
Media Relations
Margaret Henry
T: +44 (0)1235 430036
Cell: +44 (0)7710 304249
E: margaret.henry@adaptimmune.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Adaptimmune Therapeutics plc via
Globenewswire
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