BioDelivery Sciences International, Inc. Announces Proposed Underwritten Public Offering of Common Stock
April 10 2019 - 4:07PM
BioDelivery Sciences International, Inc. (Nasdaq: BDSI) (“BDSI” or
the “Company”) today announced that it is commencing an
underwritten public offering of shares of common stock. In
addition, the underwriters will have a 30-day option to purchase
from a selling stockholder up to an additional 15% of the shares of
common stock offered in the public offering at the public offering
price less the underwriting discount. The Company intends to use
the net proceeds of the offering for working capital and other
corporate purposes. BDSI will not receive any of the proceeds
from sale of the shares of common stock by the selling stockholder.
Cantor Fitzgerald & Co. and SunTrust
Robinson Humphrey, Inc. are acting as joint book-running managers
for the offering. The offering is subject to market and other
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The securities described above will be offered
by the Company pursuant to a "shelf" registration statement (File
No. 333-228292) previously filed with the Securities and Exchange
Commission (the "SEC") on November 9, 2018, as amended, in the form
in which it became effective on February 7, 2019.
The offering may be made only by means of a
prospectus supplement and the accompanying prospectus. Before
investing in the offering, you should read in their entirety the
prospectus supplement and the accompanying prospectus and the other
documents that BDSI has filed with the SEC that are incorporated by
reference in the prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
the offering. A preliminary prospectus supplement and the
accompanying prospectus related to the offering will be filed with
the SEC and will be available on the SEC's website at
http://www.sec.gov, copies of which can be obtained, when
available, from Cantor Fitzgerald & Co., Attention: Capital
Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by
email at prospectus@cantor.com, or from SunTrust Robinson Humphrey,
Inc., 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326,
Attention: Prospectus Department; email:
strh.prospectus@suntrust.com.
This press release shall not constitute an offer
to sell, or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
ABOUT BIODELIVERY SCIENCES
INTERNATIONAL, INC.
BioDelivery Sciences International,
Inc. (NASDAQ: BDSI) is a commercial-stage specialty
pharmaceutical company dedicated to patients living with chronic
conditions. BDSI is utilizing its novel and proprietary BioErodible
MucoAdhesive (BEMA®) technology, to develop and commercialize,
either on its own or in partnership with third parties, new
applications of proven therapies aimed at addressing important
unmet medical needs, including its products BELBUCA® and Symproic®.
BDSI's marketed products and those in development address serious
and debilitating conditions such as chronic pain, breakthrough
cancer pain, opioid dependence and opioid induced constipation.
CONTACT: Mary Coleman Vice President, Investor
Relations BioDelivery Sciences International, Inc. 919-582-9050
mcoleman@bdsi.com
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