Agios Announces Pricing of $250 Million Public Offering of Common Stock
April 18 2017 - 8:34PM
Agios Pharmaceuticals, Inc. (Nasdaq:AGIO) today announced that it
has priced an underwritten a public offering of 5,050,505 shares of
common stock at a price to the public of $49.50 per share, before
underwriting discounts, which would result in aggregate gross
proceeds of approximately $250 million. All of the shares in the
offering are to be sold by Agios. Agios has also granted the
underwriters a 30-day option to purchase from it up to an
additional 15% of the shares of common stock offered in the public
offering on the same terms and conditions. Closing of the offering
is expected to occur on or about April 24, 2017, subject to
customary closing conditions.
J.P. Morgan Securities LLC and Goldman, Sachs &
Co. are acting as joint book-running managers for the offering.
Cowen and Company, LLC is serving as lead manager.
The shares are being offered by Agios pursuant to
an automatically effective shelf registration statement that has
been filed with the Securities and Exchange Commission (“SEC”). 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 the
accompanying prospectus relating to this offering, when available,
can be obtained from J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, telephone: 866-803-9204; or Goldman, Sachs, & Co., Attn:
Prospectus Department, 200 West Street, New York, New York 10282,
telephone: 866-471-2526, facsimile: 212-902-9316, e-mail:
prospectus-ny@ny.email.gs.com.
This press release does 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 any such state or
jurisdiction.
About Agios Pharmaceuticals,
Inc.
Agios is focused on discovering and developing
novel investigational medicines to treat cancer and rare genetic
diseases through scientific leadership in the field of cellular
metabolism. In addition to an active research and discovery
pipeline across both therapeutic areas, Agios has multiple
first-in-class investigational medicines in clinical and/or
preclinical development. All Agios programs focus on genetically
identified patient populations, leveraging our knowledge of
metabolism, biology and genomics.
Cautionary Note Regarding Forward Looking
Statements
This press release contains forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995, such as those, among others, relating to Agios’
plans to consummate its proposed public offering. The words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“plan,” “predict,” “project,” “would,” “could,” “potential,”
“possible,” “hope” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties
related to the satisfaction of customary closing conditions related
to the proposed public offering and the impact of general economic,
industry or political conditions in the United States or
internationally. There can be no assurance that Agios will be able
to complete the proposed offering on the anticipated terms, or at
all. You should not place undue reliance on these forward-looking
statements. Additional risks and uncertainties relating to the
proposed offering, Agios and its business can be found under the
caption “Risk Factors” included in Agios’ Annual Report on Form
10-K for the year ended December 31, 2016, Agios’ preliminary
prospectus supplement filed with the SEC on April 17, 2017, and
other filings that Agios may make with the SEC in the future. Any
forward-looking statements contained in this press release speak
only as of the date hereof, and Agios expressly disclaims any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Kendra Adams, Senior Director, Investor & Public Relations
Kendra.Adams@agios.com
617-844-6407
Renee Leck, Senior Manager, Investor & Public Relations
Renee.Leck@agios.com
617-649-8299
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