Arvinas, Inc. Announces Exercise of Underwriters’ Option to Purchase Additional Shares
December 28 2020 - 4:30PM
Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology
company creating a new class of drugs based on targeted protein
degradation using its PROTAC® Discovery Engine, today announced
that the underwriters of its previously announced underwritten
public offering of common stock, which closed on December 18, 2020,
have exercised in full their option to purchase additional shares
of common stock at the public offering price, less underwriting
discounts and commissions. After giving effect to the sale of
857,142 additional shares of common stock in the option closing,
the total number of shares of common stock sold by Arvinas in the
offering increased to 6,571,428 shares, which resulted in aggregate
net proceeds of approximately $431.9 million. All of
the shares were offered by Arvinas.
Goldman Sachs & Co. LLC and Piper Sandler
& Co. acted as joint book-running managers for the offering.
Cantor Fitzgerald & Co. and BMO Capital Markets acted as
co-managers for the offering.
An automatically effective shelf registration
statement relating to the shares of common stock offered in the
public offering was previously filed with the Securities and
Exchange Commission. Copies of the final prospectus supplement and
the accompanying prospectus relating to this offering may be
obtained by contacting: Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 866-471-2526, facsimile: 212-906-9316 or by emailing
prospectus-ny@ny.email.gs.com; or Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, by telephone at 800-747-3924 or by email at
prospectus@psc.com.
This press release does not constitute an offer
to sell, or a solicitation of an offer to buy these securities, 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 Arvinas, Inc.
Arvinas is a clinical-stage biopharmaceutical
company dedicated to improving the lives of patients suffering from
debilitating and life-threatening diseases through the discovery,
development, and commercialization of therapies that degrade
disease-causing proteins. Arvinas uses its proprietary PROTAC®
Discovery Engine platform to engineer proteolysis targeting
chimeras, or PROTAC® targeted protein degraders, that are designed
to harness the body’s own natural protein disposal system to
selectively and efficiently degrade and remove disease-causing
proteins. In addition to its robust preclinical pipeline of PROTAC®
protein degraders against validated and “undruggable” targets, the
company has two clinical-stage programs: ARV-110 for the treatment
of men with metastatic castrate-resistant prostate cancer; and
ARV-471 for the treatment of patients with locally advanced or
metastatic ER+/HER2- breast cancer.
Investors: Will
O’Connor, Stern Investor Relationsir@arvinas.com
Media:Kirsten Owens, Arvinas
Communicationskirsten.owens@arvinas.com
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