La Jolla Pharmaceutical Company Announces $100 Million Public Offering of Common Stock
March 14 2018 - 4:01PM
La Jolla Pharmaceutical Company (Nasdaq:LJPC) (La Jolla), a leader
in the development of innovative therapies intended to
significantly improve outcomes in patients suffering from
life-threatening diseases, today announced a registered offering of
$100.0 million of its shares of common stock. In addition, La Jolla
has granted the underwriter a 30-day option to purchase up to $15.0
million of its shares of common stock. All of the shares to be sold
in the public offering are being offered by La Jolla.
Cowen is acting as the sole book-running manager
for the offering.
La Jolla intends to use the proceeds from the
proposed sale of its shares of common stock for general corporate
purposes, which include, but are not limited to, the continued
commercialization of GIAPREZATM (angiotensin II), funding its
ongoing and future clinical trials of LJPC-401, preclinical
development work and other administrative expenses.
The offering is being made pursuant to a
registration statement that was filed with the Securities and
Exchange Commission and became effective on November 21, 2017. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction. Copies of the final
prospectus supplement (when available) and accompanying prospectus
relating to these securities may also be obtained by sending a
request to: Cowen and Company, LLC, c/o Broadridge Financial
Services, 1155 Long Island Avenue, Edgewood,
NY 11717, Attention: Prospectus Department, or by telephone at
(631) 274-2806.
Forward Looking Statement Safe
Harbor
This press release contains forward-looking
statements, as that term is defined in the Private Securities
Litigation Reform Act of 1995. These statements relate to
expectations regarding the closing of the above referenced
securities offering. These statements are only predictions or
statements of current expectations and involve known and unknown
risks, uncertainties and other factors. La Jolla cautions readers
not to place undue reliance on any such forward-looking statements,
which speak only as of the date they were made. Certain of these
risks, uncertainties and other factors are described in greater
detail in La Jolla’s filings with the U.S. Securities and Exchange
Commission (SEC), all of which are available free of charge on the
SEC’s website www.sec.gov. La Jolla expressly disclaims any
intent to update any forward‑looking statements to reflect the
outcome of subsequent events.
Company Contacts
Sandra VedrickDirector, Investor Relations & Human
ResourcesLa Jolla Pharmaceutical CompanyPhone: (858) 207-4264 Ext:
1135Email: svedrick@ljpc.com
and
Dennis M. MulroyChief Financial OfficerLa Jolla Pharmaceutical
CompanyPhone: (858) 207-4264 Ext: 1040Email: dmulroy@ljpc.com
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