Cytokinetics Announces Pricing of Public Offering of Common Stock
July 16 2020 - 11:32PM
Cytokinetics, Incorporated (Nasdaq:CYTK) today announced the
pricing of an underwritten public offering of 7,291,667 shares of
its common stock at a price to the public of $24.00 per share,
before underwriting discounts and commissions. The gross proceeds
to Cytokinetics from the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
Cytokinetics, are expected to be approximately $175.0 million. The
offering is expected to close on July 21, 2020, subject to
customary closing conditions. Additionally, Cytokinetics has
granted the underwriters a 30-day option to purchase up to an
additional 1,093,750 shares of its common stock at the public
offering price, less underwriting discounts and commissions.
All of the shares of common stock in the offering will be sold by
Cytokinetics.
Goldman Sachs & Co. LLC, Piper Sandler &
Co. and Cantor Fitzgerald & Co. are acting as joint
book-running managers for the offering. Barclays Capital Inc. is
acting as an additional book-running manager for the
offering. JMP Securities LLC is acting as lead co-manager,
and Raymond James & Associates, Inc. and H.C. Wainwright &
Co., LLC are acting as co-managers.
The securities described above are being offered
by Cytokinetics pursuant to a shelf registration statement
(including a prospectus) filed on November 6, 2019 with the
Securities and Exchange Commission (SEC), which has become
automatically effective. A preliminary prospectus supplement and
accompanying prospectus relating to the offering have been filed,
and a final prospectus supplement and accompanying prospectus
relating to the offering will be filed, with the SEC and
can be accessed for free on the SEC's website
at http://www.sec.gov. Copies of the final prospectus
supplement and accompanying prospectus relating to the offering,
when available, may be obtained from: Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, New
York 10282, by phone at (866) 471‐2526 or by email at
prospectus-ny@ny.email.gs.com; Piper Sandler & Co., Attn:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis,
Minnesota 55402, by telephone at (800) 747-3924 or by email at
prospectus@psc.com; Cantor Fitzgerald & Co., Attention: Capital
Markets, 499 Park Avenue, 6th Floor, New York, New York 10022, or
by email: prospectus@cantor.com; or Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, via telephone: 1-888-603-5847.
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 Cytokinetics
Cytokinetics is a late-stage biopharmaceutical
company focused on discovering, developing and commercializing
first-in-class muscle activators and next-in-class muscle
inhibitors as potential treatments for debilitating diseases in
which muscle performance is compromised and/or declining.
Forward-Looking Statements
Certain of the statements made in this press
release are forward looking, such as those, among others, relating
to Cytokinetics’ expectations regarding the completion of the
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 and the satisfaction of customary closing conditions
related to the public offering. There can be no assurance that
Cytokinetics will be able to complete the 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 public offering, Cytokinetics and its business can
be found under the heading “Risk Factors” in Cytokinetics’
Quarterly Report on Form 10-Q for the first quarter of 2020, which
was filed on May 8, 2020, and other filings with the SEC, and in
the preliminary prospectus supplement related to the public
offering, filed with the SEC on July 15, 2020. Except as otherwise
required by law, Cytokinetics 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:CytokineticsDiane WeiserSenior Vice President, Corporate
Communications & Investor Relations(415) 290-7757
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