La Jolla Pharmaceutical Company Announces Pricing of Public Offering of Common Stock
March 15 2018 - 8:00AM
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 the pricing of its
underwritten public offering of 3,400,000 shares of its common
stock at a price to the public of $29.50 per share, resulting in
gross proceeds of approximately $100.3 million before underwriting
discounts. In addition, La Jolla has granted the underwriter of the
offering an option for a period of 30 days to purchase up to an
additional 510,000 shares of the company's common stock at the
public offering price, less the underwriting discount.
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 GIAPREZA™ (angiotensin II), funding its
ongoing and future clinical trials of LJPC-401, preclinical
development work and other administrative expenses.
The offering is expected to close on or about
March 19, 2018, subject to satisfaction of customary closing
conditions.
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.
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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