Summit Therapeutics Announces Exercise of Underwriters’ Over-Allotment Option
September 15 2017 - 1:31PM
Summit Therapeutics plc (NASDAQ:SMMT) (AIM:SUMM), the drug
discovery and development company advancing therapies for Duchenne
muscular dystrophy and C. difficile infection, today announces that
the underwriters of its underwritten public offering have exercised
in full their over-allotment option to purchase an additional
218,850 American Depositary Shares (“ADSs”) at the public offering
price of $12.00 per ADS, less underwriting discounts and
commissions. After the over-allotment exercise, the total
number of ADSs to be sold by Summit in this public offering will
increase to 1,677,850. The ADSs trade on the NASDAQ Global Market.
Each ADS represents five ordinary shares of Summit.
Canaccord Genuity Inc. and JMP Securities LLC are acting as
joint lead book-running managers for the offering. Needham &
Company, LLC is acting as lead manager and H.C. Wainwright &
Co., LLC is acting as co-manager.
The securities are being issued and sold pursuant to an
effective shelf registration statement (including a base
prospectus) that was previously filed with the Securities and
Exchange Commission (the “SEC”). The final prospectus supplement
relating to the offering was filed with the SEC on September 14,
2017 and is available on the SEC’s website at www.sec.gov. Copies
of the final prospectus supplement and the accompanying prospectus
relating to the offering may be obtained by contacting Canaccord
Genuity Inc., Attention: Syndicate Department, 99 High Street, 12th
Floor, Boston, Massachusetts 02110, telephone: +1 (617) 371-3900 or
JMP Securities LLC, Prospectus Department, 600 Montgomery Street,
10th Floor, San Francisco, California 94111, telephone: +1 (415)
835- 8985. This press release is being issued pursuant to and
in accordance with Rule 135e under the United States Securities Act
of 1933, as amended (the “Securities Act”).
This press release does not constitute a prospectus and does not
constitute or form part of any offer or invitation to sell or
issue, or the solicitation of an offer to purchase or acquire, any
of the ordinary shares or ADSs or any other securities in the
United States of America or in any other jurisdiction. Securities
may not be offered or sold in the United States of America absent
registration or an exemption from registration under the Securities
Act. Any public offering of securities to be made in the United
States will be made by means of a prospectus. Such prospectus will
contain or incorporate by reference detailed information about the
issuer and its management and financial statements. In particular,
and without limitation, no offer of securities to the public (as
that term is understood in the EU Prospectus Directive) is being
made in the United Kingdom or in any other country in the European
Economic Area which has implemented the EU Prospectus
Directive.
About Summit TherapeuticsSummit is a
biopharmaceutical company focused on the discovery, development and
commercialization of novel medicines for indications for which
there are no existing or only inadequate therapies. Summit is
conducting clinical programs focused on the genetic disease
Duchenne muscular dystrophy and the infectious disease Clostridium
difficile infection.
For more information, please contact:
Summit
Glyn Edwards / Richard Pye (UK office)
Tel: +44 (0)1235 443 951Erik Ostrowski / Michelle Avery (US
office) +1 617 225
4455
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