Bellerophon Therapeutics Announces Pricing of Public Offering of Common Stock and Concurrent Registered Direct Offering
May 19 2020 - 7:00AM
Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) (“Bellerophon” or the
“Company”) today announced the pricing of offerings for an
aggregate of 3,076,923 shares of its common stock at a public
offering price of $13.00 per share (the “Offerings”). The Offerings
consisted of an underwritten public offering (the “Underwritten
Offering”) of 1,923,077 shares and a registered direct offering
(the “Direct Offering”) of 1,153,846 shares to an institutional
investor affiliated with a member of the Company’s board of
directors. Bellerophon has granted the underwriters of the
Underwritten Offering a 30-day option to purchase up to
an additional 288,461 shares of common stock at the public offering
price, less the underwriting discounts and commissions. The gross
proceeds to Bellerophon before deducting underwriting discounts,
financial advisory fees, commissions and estimated offering
expenses payable by Bellerophon, are expected to be approximately
$40 million, excluding any exercise of the underwriters’
option to purchase additional shares in connection with the
Underwritten Offering.
All securities in the offering are being sold by
Bellerophon.
Bellerophon intends to use the net proceeds from the Offerings,
together with its current cash and cash equivalents, for funding
its ongoing clinical trials, working capital needs and other
general corporate purposes.
Jefferies LLC is acting as sole book-running manager for the
Underwritten Offering. H.C. Wainwright & Co., LLC is acting as
the lead manager for the Underwritten Offering.
The Offerings are expected to close on or about May 21, 2020, in
each case subject to the satisfaction of customary closing
conditions. The closings of the Offerings are not conditioned
upon each other.
The securities are being offered pursuant to an effective shelf
registration statement that was previously filed with the
Securities and Exchange Commission (“SEC”). The Offerings will be
made only by means of written prospectuses and prospectus
supplements forming a part of the registration statement. In
connection with the Underwritten Offering, a preliminary prospectus
supplement and the accompanying prospectus describing the terms of
the Underwritten Offering was filed with the SEC on May 18,
2020. A final prospectus supplement and the accompanying
prospectus of each offering will be filed with the SEC and will be
available at the SEC’s website located at www.sec.gov.
When available, copies of the final prospectus supplement and
the accompanying prospectus relating to the Underwritten Offering
may be obtained for free from Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by telephone at +1 877 821 7388 or by email at
Prospectus_Department@Jefferies.com.
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 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 Bellerophon
Bellerophon is a clinical-stage biotherapeutics company
focused on developing innovative therapies that address significant
unmet medical needs in the treatment of cardiopulmonary diseases
and infectious lung diseases. The Company is currently developing
multiple product candidates under its INOpulse® program, a
proprietary pulsatile nitric oxide delivery system.
Forward-looking Statements
Any statements in this press release about Bellerophon’s future
expectations, plans and prospects, including statements about the
intended use of net proceeds from the Offerings and the timing of
the closings of the Offerings as well as statements about the
clinical development of its product candidates, regulatory actions
with respect to the Company’s clinical trials and expectations
regarding the sufficiency of the Company’s cash balance to fund
clinical trials, operating expenses and capital expenditures, and
other statements containing the words “anticipate,” “believe,”
“continue,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “potential,” “predict,” “project,” “should,”
“target,” “will,” “would,” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: INOpulse® may
prove not to be an effective treatment for COVID-19 or approved for
marketing by the FDA, market and other conditions, the
uncertainties inherent in the initiation of future clinical trials,
availability and timing of data from ongoing and future clinical
trials and the results of such trials, whether preliminary or
interim results from a clinical trial will be predictive of the
final results of that trial or whether results of early clinical
trials will be indicative of the results of later clinical trials,
expectations for regulatory approvals, the FDA’s substantial
discretion in the approval process, availability of funding
sufficient for our foreseeable and unforeseeable operating expenses
and capital expenditure requirements and other factors discussed in
the “Risk Factors” section of the Company’s most recent Annual
Report on Form 10-K and in subsequent filings with
the Securities and Exchange Commission. In addition, any
forward-looking statements included in this press release represent
Bellerophon’s views only as of the date of this release and should
not be relied upon as representing the Company’s views as of any
subsequent date. The Company specifically disclaims any obligation
to update any forward-looking statements included in this press
release, except as required by law.
Contacts
At Bellerophon: |
|
At LifeSci Advisors: |
Fabian Tenenbaum, Chief Executive Officer |
|
Brian Ritchie |
(908) 574-4767 |
|
(212) 915-2578 |
Source: Bellerophon Therapeutics, Inc.
Bellerophon Therapeutics (NASDAQ:BLPH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bellerophon Therapeutics (NASDAQ:BLPH)
Historical Stock Chart
From Apr 2023 to Apr 2024