Adaptive Biotechnologies Announces Pricing of Initial Public Offering
June 26 2019 - 7:57PM
Adaptive Biotechnologies Corporation (Nasdaq:ADPT) (“Adaptive”), a
commercial-stage biotechnology company that reads and translates
the genetic code of the adaptive immune system to develop
personalized diagnostics and therapeutics to improve patient lives,
today announced the pricing of its initial public offering of
15,000,000 shares of common stock at a public offering price of
$20.00 per share, before underwriting discounts and commissions.
The gross proceeds of the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
Adaptive, are expected to be $300.0 million, excluding any exercise
of the underwriters’ option to purchase additional shares.
All of the shares of common stock are being offered by Adaptive. In
addition, Adaptive has granted the underwriters a 30-day option to
purchase up to an additional 2,250,000 shares of common stock at
the initial public offering price, less the underwriting discounts
and commissions. Adaptive common stock is expected to begin trading
on The Nasdaq Global Select Market on June 27, 2019, under the
ticker symbol “ADPT.” The offering is expected to close on July 1,
2019, subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan and BofA Merrill Lynch
are acting as joint lead book-running managers for the offering.
Cowen and Guggenheim Securities are acting as book-running managers
for the offering. William Blair and BTIG are acting as co-managers
for the offering.
A registration statement relating to the shares being sold in
this offering was declared effective by the Securities and Exchange
Commission on June 26, 2019. The offering is being made only by
means of a prospectus. Copies of the final prospectus relating to
this offering may be obtained, when available, from: Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, New York 10282, or by telephone at (866) 471-2526, or by
email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by telephone at (866) 803-9204 or by email
at prospectus-eq_fi@jpmchase.com; or BofA Merrill Lynch,
NC1-004-03-43; 200 North College Street, 3rd floor, Charlotte NC
28255-0001, Attn: Prospectus Department, Email:
dg.prospectus_requests@baml.com.
This press release shall 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 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 Adaptive Biotechnologies Adaptive
Biotechnologies is a commercial-stage biotech company focused on
harnessing the inherent biology of the adaptive immune system to
transform the diagnosis and treatment of disease. We believe the
adaptive immune system is nature’s most finely tuned diagnostic and
therapeutic for most diseases, but the inability to decode it has
prevented the medical community from fully leveraging its
capabilities. Our proprietary immune medicine platform reveals and
translates the massive genetics of the adaptive immune system with
scale, precision and speed to develop products in life sciences
research, clinical diagnostics, and drug discovery. We have two
commercial products, and a robust clinical pipeline to diagnose,
monitor and enable the treatment of diseases such as cancer,
autoimmune conditions and infectious diseases. Our goal is to
develop and commercialize immune-driven clinical products tailored
to each individual patient.
Caution Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements regarding Adaptive’s current expectations, including
expected gross proceeds from the offering, the expected first
trading date and the expected closing of the offering. Words such
as “may,” “might,” “will,” “should,” “believe,” “expect,”
“anticipate,” “estimate,” “continue,” “predict,” “forecast,”
“project,” “plan,” “intend” or similar expressions, or statements
regarding intent, belief, or current expectations are
forward-looking statements. These statements are not guarantees of
future performance and are subject to certain risks, uncertainties
and assumptions that are difficult to predict. Factors that could
cause actual results to differ include, but are not limited to,
those described more fully in the section captioned “Risk Factors”
in the final prospectus related to the public offering filed with
the Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date, and
Adaptive Biotechnologies undertakes no duty to update such
information except as required under applicable law.
INVESTOR CONTACT:Lynn Lewis or Carrie
Mendivil415-937-5405investors@adaptivebiotech.com
MEDIA CONTACT:Beth KeshishianDirector,
Corporate Communications 917-912-7195media@adaptivebiotech.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1a0e25d3-604c-463e-a9f8-93e84eaccb9f
https://www.globenewswire.com/NewsRoom/AttachmentNg/dee467d2-b3df-4f58-bbe5-4b0365eed337
https://www.globenewswire.com/NewsRoom/AttachmentNg/c1fa1f55-e425-482c-a3b0-d79d52af261d
https://www.globenewswire.com/NewsRoom/AttachmentNg/9090ced1-c12b-4019-b394-6dde4757c063
https://www.globenewswire.com/NewsRoom/AttachmentNg/4af003e7-5a37-4720-8cf1-f240c453915c
https://www.globenewswire.com/NewsRoom/AttachmentNg/3016f0e0-76ad-4499-aa44-ec617477546f
Videos accompanying this announcement are available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1bdd2a1-7a8d-4389-a79b-537365bfe2d1
https://www.globenewswire.com/NewsRoom/AttachmentNg/d2f29457-b32c-4e48-906a-b087622f0e9d
https://www.globenewswire.com/NewsRoom/AttachmentNg/d8c094a0-e398-427c-bb63-1226dafeac61
Adaptive Biotechnologies (NASDAQ:ADPT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Adaptive Biotechnologies (NASDAQ:ADPT)
Historical Stock Chart
From Sep 2023 to Sep 2024