Portola Announces Pricing of Public Offering of Common Stock
September 12 2017 - 10:39PM
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) announced today the
pricing of its underwritten public offering of 6,350,000 shares of
its common stock at a price to the public of $55.00 per
share. In addition, the underwriters of the offering have
been granted a 30-day option to purchase up to an additional
952,500 shares from Portola at the public offering price. The
offering is expected to close on September 15, 2017, subject to
customary closing conditions.
In addition, the company will not be presenting
at the 2017 Morgan Stanley Global Healthcare Conference, which
was previously scheduled for Wednesday, September 13, 2017
at 1:00 p.m. Eastern Time.
Morgan Stanley, Citigroup and Goldman Sachs
& Co. LLC are acting as joint book-running managers and Cowen
and William Blair are acting as co-managers for the offering. A
preliminary prospectus supplement and final prospectus supplement
may be obtained from the offices of Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, or Citigroup, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
(800) 831-9146, or Goldman Sachs & Co. LLC, Prospectus
Department, 200 West Street, New York, NY 10282, telephone:
1-866-471-2526, facsimile: 212-902-9316 or by emailing
prospectus-ny@ny.email.gs.com.
A registration statement relating to these
securities has been filed with the Securities and Exchange
Commission and became effective on November 9, 2015. 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 any such state or jurisdiction.
About Portola Pharmaceuticals,
Inc.
Portola Pharmaceuticals is a biopharmaceutical
company developing product candidates that could significantly
advance the fields of thrombosis and other hematologic diseases.
The Company is advancing its three wholly-owned programs using
novel biomarker and genetic approaches that may increase the
likelihood of clinical, regulatory and commercial success of its
potentially life-saving therapies. Portola's partnered program is
focused on developing selective Syk inhibitors for inflammatory
conditions.
Forward-Looking Statements
This announcement contains forward-looking
statements, including statements relating to Portola
Pharmaceuticals’ expectations regarding the completion, timing and
size of the proposed public offering. These statements are subject
to significant risks and uncertainties and actual results could
differ materially from those projected. Portola Pharmaceuticals
cautions investors not to place undue reliance on the
forward-looking statements contained in this release. These risks
and uncertainties include, without limitation, risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering. There
can be no assurance that Portola Pharmaceuticals will be able to
complete the public offering on the anticipated terms, or at all.
Risks and uncertainties relating to Portola Pharmaceuticals and its
business can be found in the “Risk Factors” section of Portola
Pharmaceuticals’ Quarterly Report on Form 10-Q for the second
quarter of 2017, which was filed on August 9, 2017, and in the
prospectus supplement related to the proposed offering filed with
the SEC. Portola Pharmaceuticals undertakes no duty or obligation
to update any forward-looking statements contained in this release
as a result of new information, future events or changes in Portola
Pharmaceuticals’ expectations.
Investor Contact:Michele
MantynenPortola Pharmaceuticalsir@portola.com
Media Contact:Patrick
RyanW2O Grouppyran@w2ogroup.com
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