Eloxx Pharmaceuticals, Inc. Announces Pricing of Public Offering of Common Stock
May 14 2021 - 7:00AM
Eloxx Pharmaceuticals, Inc. (the “Company”) (Nasdaq: ELOX), a
leader in ribosomal RNA-targeted genetic therapies for rare
diseases, today announced the pricing of an underwritten public
offering of 33,333,334 shares of common stock at a public offering
price of $1.35 per share. In addition, the Company expects to grant
the underwriters a 30-day option to purchase an additional
5,000,000 shares of common stock at the public offering price, less
underwriting discounts and commissions.
B. Riley Securities, Inc. is acting as sole-book running manager
for the offering. The offering is expected to close on or about May
18, 2021, subject to customary closing conditions.
The common stock is being offered pursuant to a shelf
registration statement on Form S-3 that was previously declared
effective by the Securities and Exchange Commission (SEC) on
November 26, 2018. This offering is being made only by means of a
written prospectus and prospectus supplement that form a part of
the registration statement. A preliminary prospectus supplement
relating to and describing the terms of the offering was filed with
the SEC and is available on the SEC’s website at www.sec.gov. The
final terms of the offering will be disclosed in a final prospectus
supplement to be filed with the SEC. When available, copies of the
final prospectus supplement relating to the offering may also be
obtained by contacting: B. Riley Securities, Inc., Attention:
Prospectus Department, 1300 North 17th Street, Suite 1300,
Arlington, Virginia 22209, or by telephone at 703-312-9580 or by
email at prospectuses@brileyfin.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such jurisdiction.
Forward-Looking StatementForward-looking
statements are based on management's current plans, estimates,
assumptions and projections based on information currently
available to us. Forward-looking statements are subject to known
and unknown risks, uncertainties and assumptions, and actual
results or outcomes may differ materially from those expressed or
implied in the forward-looking statements due to various important
factors, including, but not limited to: our ability to progress any
product candidates in preclinical or clinical trials; the
uncertainty of clinical trial results and the fact that positive
results from preclinical studies are not always indicative of
positive clinical results; the scope, rate and progress of our
preclinical studies and clinical trials and other research and
development activities; the competition for patient enrollment from
drug candidates in development; the impact of the global COVID-19
pandemic on our clinical trials, operations, vendors, suppliers,
and employees; our ability to obtain the capital necessary to fund
our operations; the cost of filing, prosecuting, defending and
enforcing any patent claims and other intellectual property rights;
our ability to obtain financial in the future through product
licensing, public or private equity or debt financing or otherwise;
general business conditions, regulatory environment, competition
and market for our products; and business ability and judgment of
personnel, and the availability of qualified personnel and other
important risk factors discussed in our other filings with the SEC,
including but not limited to our Annual Report on Form 10-K for the
year ended December 31, 2020 and our Quarterly Report on Form 10-Q
for the quarter ended March 31, 2021. All forward-looking
statements speak only as of the date of this press release and,
except as required by applicable law, we have no obligation to
update or revise any forward-looking statements contained herein,
whether as a result of any new information, future events, changed
circumstances or otherwise.
Contact InformationInvestors
John Woolfordjohn.woolford@westwicke.com443.213.0506
MediaLaureen Cassidylaureen@outcomescg.com
SOURCE: Eloxx Pharmaceuticals, Inc.
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