Clovis Oncology Announces Proposed Offering of Common Stock
June 19 2017 - 4:01PM
Business Wire
Clovis Oncology, Inc. (NASDAQ:CLVS) announced today that it has
commenced an underwritten public offering of shares of its common
stock to raise aggregate proceeds of approximately $250 million.
All shares of the common stock to be sold in the offering will be
offered by Clovis Oncology.
Clovis Oncology intends to use the net proceeds of the offering
for general corporate purposes, including sales and marketing
expenses associated with Rubraca® (rucaparib) in the United States
and, if approved by the European Medicines Agency (EMA), in Europe,
funding of its development programs, general and administrative
expenses, acquisition or licensing of additional product candidates
or businesses and working capital.
J. P. Morgan Securities LLC and BofA Merrill Lynch are acting as
joint book-running managers for the offering. Stifel and SunTrust
Robinson Humphrey are acting as co-managers for the offering.
In addition, Clovis Oncology intends to grant the underwriters a
30-day option to purchase up to an additional 15 percent of the
number of shares sold on the same terms and conditions. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
This offering is being made only by means of a prospectus
supplement and related prospectus. Copies of the prospectus
supplement and related prospectus relating to this offering may be
obtained from J. P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by
calling toll-free (866) 803-9204, or from BofA Merrill Lynch,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC
28255-0001, Attn: Prospectus Department, or by email to
dg.prospectus_requests@baml.com.
The shares are being offered pursuant to an effective shelf
registration statement. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy, nor will 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 Clovis Oncology
Clovis Oncology, Inc. is a biopharmaceutical company focused on
acquiring, developing and commercializing innovative anti-cancer
agents in the U.S., Europe and additional international markets.
Clovis Oncology targets development programs at specific subsets of
cancer populations, and simultaneously develops, with partners,
diagnostic tools intended to direct a compound in development to
the population that is most likely to benefit from its use. Clovis
Oncology is headquartered in Boulder, Colorado and has additional
offices in San Francisco, California and Cambridge, United
Kingdom.
To the extent that statements contained in this press release
are not descriptions of historical facts regarding Clovis Oncology,
they are forward-looking statements reflecting the current beliefs
and expectations of management made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve substantial risks and
uncertainties that could cause our actual results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, the timing and size of the
offering, the conditions affecting the capital markets, general
economic, industry, or political conditions, and the satisfaction
of customary closing conditions related to the proposed public
offering. Clovis Oncology undertakes no obligation to update or
revise any forward-looking statements. For a further description of
the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the business of the company in general,
see the prospectus supplement and related prospectus for this
offering as well as Clovis Oncology’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and its other reports filed with the
Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20170619006198/en/
Clovis Oncology, Inc.Anna Sussman,
303-625-5022asussman@clovisoncology.comorBreanna Burkart,
303-625-5023bburkart@clovisoncology.com
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