PhaseBio Launches Roadshow for Initial Public Offering
October 08 2018 - 7:00AM
PhaseBio Pharmaceuticals, Inc. (“PhaseBio”), a clinical-stage
biopharmaceutical company focused on the development and
commercialization of novel therapies for orphan diseases, with an
initial focus on cardiopulmonary disorders, today announced that it
has launched the roadshow for the initial public offering of its
common stock. PhaseBio is offering 5,000,000 shares of its common
stock at an expected initial public offering price between $12.00
and $14.00 per share. PhaseBio expects to grant the underwriters a
30-day option to purchase up to an additional 750,000 shares of
common stock at the initial public offering price to cover
over-allotments. PhaseBio has applied to list its common stock on
the Nasdaq Global Market under the ticker symbol “PHAS.”
Citigroup, Cowen and Stifel are acting as joint book-running
managers for the offering. Needham & Company, LLC is acting as
co-manager for the offering.
The offering will be made only by means of a prospectus. A copy
of the preliminary prospectus related to the offering may be
obtained from Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: 1-800-831-9146; or Cowen and Company, LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, Attn: Prospectus Department, telephone: 1-631-274-2806,
or fax: 1-631-254-7140.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers
to buy these securities be accepted prior to the time that the
registration statement becomes effective. 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 registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including statements with regard to PhaseBio’s proposed securities
offering. Words such as “anticipates,” “believes,” “expects,”
“intends,” “projects,” “anticipates,” and “future” or similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions and no
assurance can be given that the proposed securities offering
discussed above will be consummated on the terms described or at
all. Completion of the proposed securities offering and the terms
thereof are subject to numerous factors, many of which are beyond
the control of PhaseBio, including, without limitation, market
conditions, failure of customary closing conditions and the risk
factors and other matters set forth in PhaseBio’s filings with the
Securities and Exchange Commission. PhaseBio undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law.
Investor Contact:
John SharpPhaseBio Pharmaceuticals, Inc. Chief Financial
Officer(610) 981-6506John.sharp@phasebio.com
Media Contact:
Sarah Hall, 6 Degrees(215) 313-5638shall@6degreespr.com
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