PhaseBio Announces Proposed Public Offering of Common Stock
April 09 2019 - 4:45PM
PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS), a clinical-stage
biopharmaceutical company focused on the development and
commercialization of novel therapies for orphan diseases, today
announced that it has commenced an underwritten public offering of
3,000,000 shares of its common stock. All of the common stock to be
sold in the offering will be offered by PhaseBio. In addition,
PhaseBio expects to grant the underwriters a 30-day option to
purchase up to an additional 450,000 shares of common stock at the
public offering price, less underwriting discounts and commissions.
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 the actual size or terms of the offering.
Citigroup, Cowen and Stifel are acting as joint book-running
managers for the offering. Needham & Company 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
within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, 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 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 Annual Report on Form 10-K for the year
ended December 31, 2018 and other filings PhaseBio makes
with the SEC from time to time. 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 Sharp PhaseBio
Pharmaceuticals, Inc. Chief Financial Officer (610) 981-6506
john.sharp@phasebio.com
Media Contact: Sarah Hall 6 Degrees (215)
313-5638 shall@6degreespr.com
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