Assembly Biosciences Announces the Closing of its Public Offering of Common Stock and Full Exercise of the Underwriters’ Op...
December 16 2019 - 4:05PM
Assembly Biosciences, Inc. (Nasdaq: ASMB) (“Assembly”), today
announced the closing of its previously announced underwritten
public offering of 6,287,878 shares of its common stock to the
public at $16.50 per share, which included the exercise in full by
the underwriters of their option to purchase 1,136,363 additional
shares of common stock. In addition, and in lieu of common stock,
Assembly sold to a certain existing investor pre-funded warrants to
purchase up to an aggregate of 2,424,242 shares of common stock at
a purchase price of $16.499 per pre-funded warrant, which
represents the per share public offering price for the common stock
less the $0.001 per share exercise price for each such
pre-funded warrant. The aggregate gross proceeds to Assembly from
this offering were approximately $143.7 million, before deducting
underwriting discounts and commissions and other offering expenses
payable by Assembly. Assembly intends to use the net proceeds from
the sale of the common stock to fund clinical trials, nonclinical
studies, research and development and for general corporate
purposes.
Jefferies LLC, SVB Leerink LLC and William Blair & Company,
L.L.C. acted as joint bookrunning managers for the offering. Mizuho
Securities USA LLC and Robert W. Baird & Co.
Incorporated acted as co-managers for the offering.
The securities described above were offered pursuant to a shelf
registration statement (File No. 333-222366), which was declared
effective by the U.S. Securities and Exchange Commission (“SEC”) on
January 10, 2018. A final prospectus supplement relating to
this offering was filed with the SEC on December 13, 2019 and is
available on the SEC’s website at www.sec.gov. Copies of the final
prospectus supplement and accompanying prospectuses may be obtained
by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by
telephone at (877) 821-7388, or by email at
prospectus_department@jefferies.com; SVB Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, by telephone at (800) 808-7525, ext. 6132, or by email at
syndicate@svbleerink.com; or William Blair & Company, L.L.C.,
Attention: Prospectus Department, 150 North Riverside Plaza,
Chicago, IL 60606, by telephone at (800) 621-0687, or by email at
prospectus@williamblair.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 jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Assembly Biosciences Assembly
Biosciences, Inc. is a clinical-stage biotechnology company
developing innovative therapeutics targeting hepatitis B virus
(HBV) and diseases associated with the microbiome. The HBV program
is focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients. The microbiome program is developing novel
oral live microbial biotherapeutic candidates with Assembly’s fully
integrated platform, including a robust process for strain
identification and selection, GMP banking and production, and
targeted delivery to the lower gastrointestinal tract with the
GEMICEL® technology.
Forward-Looking Statements
The information in this press release contains forward-looking
statements regarding future events, including statements about
Assembly’s use of proceeds. Assembly intends such
forward-looking statements to be covered by the safe harbor
provisions contained in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. More information about the risks and uncertainties
faced by Assembly are more fully detailed under the heading “Risk
Factors” in Assembly's Quarterly Report on Form 10-Q for the
quarter ended September 30, 2019 filed with the Securities and
Exchange Commission. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this
press release. Except as required by law, Assembly assumes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contacts
Investors: Lauren Glaser (415) 521-3828
lglaser@assemblybio.com
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