Otonomy Announces Proposed Public Offering
April 07 2021 - 4:06PM
Otonomy, Inc. (Nasdaq: OTIC), a biopharmaceutical company dedicated
to the development of innovative therapeutics for neurotology,
today announced that it has commenced an underwritten public
offering of its common stock. All shares of common stock to be sold
in the offering will be offered by Otonomy. Otonomy may, in lieu of
common stock, offer and sell to certain investors pre-funded
warrants to purchase shares of its common stock in the underwritten
public offering. In addition, Otonomy expects to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares of common stock offered in this public 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.
Cowen and Piper Sandler are acting as joint book-running
managers in the offering.
A shelf registration statement (File No. 333-227269) was
previously filed with the Securities and Exchange Commission (SEC)
on September 9, 2018 and became effective on September 21, 2018. A
preliminary prospectus supplement relating to and describing the
terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. When available,
copies of the preliminary prospectus supplement and the
accompanying prospectus relating to these securities 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.,
800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus
Department, by telephone at (800) 747-3924, or by email at
prospectus@psc.com. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
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.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including, but not
limited to, statements Otonomy makes regarding its intention to
conduct an offering and sale of securities, the grant of the option
to purchase additional shares and the ability to complete this
offering. These statements involve risks and uncertainties that
could cause actual results to differ materially, including, but not
limited to, whether or not Otonomy will be able to raise capital
through the sale of shares of common stock and pre-funded warrants
or consummate the offering, the final terms of the offering, the
satisfaction of customary closing conditions, prevailing market
conditions, the anticipated use of the proceeds of the offering
which could change as a result of market conditions or for other
reasons, and the impact of general economic, industry or political
conditions in the United States or internationally. Additional
risks and uncertainties relating to the offering, Otonomy and its
business can be found under the heading “Risk Factors” in Otonomy’s
most recent current, quarterly and annual reports filed with the
SEC and in the preliminary prospectus supplement and accompanying
prospectus relating to the offering to be filed with the SEC.
Otonomy assumes no duty or obligation to update or revise any
forward-looking statements for any reason.
Contacts:
Media Inquiries Spectrum Science Chloé-Anne Ramsey Vice
President 408.865.3601 cramsey@spectrumscience.com
Investor Inquiries Westwicke ICR Robert H. Uhl Managing Director
858.356.5932 robert.uhl@westwicke.com
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