Otonomy Announces Closing of Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
July 13 2020 - 4:01PM
Otonomy, Inc. (Nasdaq: OTIC), a biopharmaceutical company
dedicated to the development of innovative therapeutics for
neurotology, today announced the closing of its previously
announced underwritten public offering of 17,275,000 shares of its
common stock, which includes the underwriters' full exercise of
their option to purchase additional shares and pre-funded warrants
to purchase up to 4,000,000 shares of its common stock, for total
gross proceeds of approximately $69.1 million, before deducting the
underwriting discounts and commissions and other offering expenses
payable by Otonomy. All of the securities were sold by Otonomy.
Cowen and Piper Sandler acted as active joint book-running
managers for the offering. Cantor Fitzgerald & Co. acted as
bookrunner and H.C. Wainwright & Co. acted as lead manager for
the offering.
A shelf registration statement (File No. 333-227269) was
previously filed with the Securities and Exchange Commission (SEC)
on September 10, 2018 and became effective on September 21, 2018.
The final prospectus supplement and accompanying prospectus
relating to the offering have been filed with the SEC and are
available on the SEC’s website at www.sec.gov. Copies of the final
prospectus supplement and the accompanying prospectus relating to
the offering may also be obtained by contacting one of the
following: Cowen and Company, LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn:
Prospectus Department, by telephone at (833) 297-2926, or by email
at PostSaleManualRequests@broadridge.com; or Piper Sandler &
Co., by mail at 800 Nicollet Mall, J12S03, Minneapolis, MN 55402,
Attn: Prospectus Department, or by telephone at (800)
747-3924, or by email at prospectus@psc.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 state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of such
state or jurisdiction.
Contacts:Media InquiriesSpectrum
ScienceChloé-Anne RamseyVice
President408.865.3601cramsey@spectrumscience.com
Investor InquiriesWestwicke ICRRobert H. UhlManaging
Director858.356.5932robert.uhl@westwicke.com
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