SOUTH SAN FRANCISCO, Calif.,
April 19, 2018 /PRNewswire/
-- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced
the pricing of its previously announced underwritten public
offering of 16,000,000 shares of its common stock, offered at a
price of $3.90 per share to the
public. The gross proceeds to Rigel from this offering are
expected to be $62.4 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses payable by Rigel. All of the
shares in the offering are to be sold by Rigel. The offering
is expected to close on or about April 24,
2018, subject to the satisfaction of customary closing
conditions. Rigel has granted the underwriters a 30-day
option to purchase up to an aggregate of 2,400,000 additional
shares of common stock at the public offering price, less
underwriting discounts and commissions.
Jefferies LLC, Piper Jaffray
& Co. and BMO Capital Markets Corp. are acting as the joint
book-running managers of the offering. H.C. Wainwright & Co.,
LLC is acting as lead manager for the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (the "SEC") and
is effective. A preliminary prospectus supplement and the
accompanying prospectus relating to the offering has been filed
with the SEC and a final prospectus supplement and the accompanying
prospectus relating to the offering will be filed with the SEC and
will be available on the SEC's web site at www.sec.gov.
When available, copies of the final prospectus supplement and the
accompanying prospectus may also be obtained from Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY
10022, or by telephone at (877) 547-6340, or by e-mail at
Prospectus_Department@Jefferies.com, from Piper Jaffray & Co., Attn: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800)
747-3924, or by email at prospectus@pjc.com, or from BMO Capital
Markets Corp., Attention: Equity Syndicate Department, 3 Times
Square, 25th Floor, New York, NY
10036, or by telephone at (800) 414-3627 or by email at
bmoprospectus@bmo.com.
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.
About Rigel Pharmaceuticals, Inc.
Rigel Pharmaceuticals, Inc., is a biotechnology company dedicated
to discovering, developing and providing novel small molecule drugs
that significantly improve the lives of patients with immune and
hematologic disorders, cancer and rare diseases. Rigel's pioneering
research focuses on signaling pathways that are critical to disease
mechanisms. The company's first FDA approved product is TAVALISSE™
(fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase
(SYK) inhibitor. Rigel's current clinical programs include Phase 2
studies of fostamatinib in autoimmune hemolytic anemia and IgA
nephropathy. In addition, Rigel has product candidates in
development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris
Therapeutics.
Forward-Looking Information is Subject to Risk and
Uncertainty
Certain of the statements made in this press release are
forward looking, such as those, among others, relating to Rigel's
expectations regarding the completion of the proposed public
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to market and other
conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of general
economic, industry or political conditions in the United States or internationally. There
can be no assurance that Rigel will be able to complete the
proposed public offering on the anticipated terms, or at all. You
should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press release.
Additional risks and uncertainties relating to the proposed
offering, Rigel and its business can be found under the heading
"Risk Factors" in Rigel's Annual Report on Form 10-K for the year
ended December 31, 2017 and other
filings with the SEC, and in the preliminary prospectus supplement
related to the proposed offering to be filed with the SEC on or
about the date hereof. Rigel does not undertake any obligation to
update forward-looking statements and expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in its expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statements are based.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Media Contact: Jessica Daitch
Phone: 917.816.6712
Email: jessica.daitich@inventivhealth.com
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SOURCE Rigel Pharmaceuticals, Inc.