Omeros Closes $68.3 Million Public Offering of Common Stock
August 21 2017 - 3:25PM
Business Wire
Omeros Corporation (NASDAQ: OMER) today announced that on August
18, 2017, as scheduled, it closed the underwritten public offering
that was priced on August 14, 2017, relating to the sale of
3,000,000 shares of its common stock at a price to the public of
$22.75 per share. After deducting underwriting fees and discount
and other estimated offering expenses, Omeros received net proceeds
from the transaction of approximately $63.6 million. Cantor
Fitzgerald & Co. has a 30-day option to purchase up to 450,000
additional shares of common stock from Omeros at the same price per
share as the shares sold by Omeros in the initial closing.
Cantor Fitzgerald & Co. acted as the sole bookrunner for the
offering. H.C. Wainwright & Co. acted as lead manager and
JonesTrading Institutional Services LLC and Maxim Group LLC acted
as co-managers in the offering.
Omeros intends to use the $63.6 million of net proceeds
from this offering for general corporate purposes, including
expenses related to funding research and development for its OMS721
programs and clinical trials, pre-clinical studies, manufacturing
and other costs associated with advancing its product candidates
toward Biologic License Application and New Drug Application
submissions. 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. In
addition to the net proceeds from this financing, as of June 30,
2017 Omeros had $29.7 million of cash and cash equivalents
available for operations.
A registration statement on Form S-3 (File No. 333-219959)
relating to the securities was filed with the Securities and
Exchange Commission on August 14, 2017. The securities
may be offered only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. A final prospectus supplement and accompanying
prospectus were filed with the Securities and Exchange
Commission on August 16, 2017. An electronic copy of the
preliminary prospectus supplement and accompanying prospectus
relating to the offering are 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 by contacting Cantor Fitzgerald & Co., Attn:
Capital Markets, 499 Park Ave., 5th Floor, New York, New
York 10022, or by telephone at 212-829-7122, or by e-mail
at prospectus@cantor.com.
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 commercial stage biopharmaceutical company committed
to discovering, developing and commercializing both small-molecule
and protein therapeutics for large-market as well as orphan
indications targeting inflammation, complement-mediated diseases
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
product commercialization and commercial operations, unproven
preclinical and clinical development activities, regulatory
oversight, intellectual property claims, competitive developments,
litigation, and the risks, uncertainties and other factors
described under the heading “Risk Factors” in the company’s most
recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K
filed with the Securities and Exchange Commission. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170821005785/en/
Cook Williams Communications, Inc.Investor and Media
RelationsJennifer Cook Williams,
360-668-3701jennifer@cwcomm.org
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