Otonomy Announces Closing of Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
April 19 2021 - 7:30AM
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 8,298,890 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 7,111,110 shares of its common stock for total gross
proceeds of approximately $34.7 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 joint book-running
managers 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., 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, Attn: Prospectus Department, 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 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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