Repligen Corporation Announces Closing of Public Offerings of $138.1 Million of Common Stock and $287.5 Million of 0.375% Con...
July 19 2019 - 7:42PM
Repligen Corporation (NASDAQ: RGEN) (“Repligen”) today announced
the closing of its previously announced concurrent underwritten
public offerings of an aggregate of 1,587,000 shares of its common
stock (the “Shares”) at a public offering price of $87.00 per share
for gross proceeds, before deducting underwriting discounts and
commissions and estimated offering expenses, of approximately
$138.1 million, and $287.5 million aggregate principal amount of
0.375% Convertible Senior Notes due 2024 (the “Notes”), which
includes the exercise in full of the underwriters’ option to
purchase 207,000 additional Shares and $37.5 million additional
Notes. The offering of the Shares (the “Shares Offering”) is
expected to result in approximately $130.7 million in net proceeds
to Repligen after deducting underwriting discounts and commissions
and other estimated offering expenses payable by Repligen. The
offering of the Notes (the “Notes Offering” and, together with the
Shares Offering, the “Offerings”) is expected to result in
approximately $278.4 million in net proceeds to Repligen after
deducting underwriting discounts and commissions and other
estimated offering expenses payable by Repligen.
Contemporaneously with the closing of the
Offerings, Repligen used approximately $68.7 million and
approximately 1.38 million shares of its common stock to settle a
portion of its previously announced exchanges (the “Notes
Exchanges”) for approximately $68.5 million aggregate principal
amount of its existing 2.125% Convertible Senior Notes due 2021
(the “2016 Notes”). With the completion of the Notes Exchanges,
there will be approximately $46.2 million principal amount of 2016
Notes outstanding. Repligen expects that it will use approximately
$23.5 million and approximately 0.47 million shares of its common
stock to settle the remainder of its previously announced exchanges
for approximately $23.5 million aggregate principal amount of 2016
Notes. In addition, Repligen issued a notice of redemption in
respect of the 2016 Notes, which provides that, on September 23,
2019, Repligen will redeem all 2016 Notes that have not been
converted, repurchased or exchanged prior to such date at a
redemption price in cash equal to 100% of the principal amount
thereof plus accrued and unpaid interest.
Repligen intends to use the remainder of the net
proceeds from the offerings for working capital and other general
corporate purposes, including to fund possible acquisitions of, or
investments in, complementary businesses, products, services and
technologies. Repligen has not entered into any agreements or
commitments with respect to any acquisitions or investments at this
time.
This press release does not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any
offer or sale of, the Shares or the Notes (or any shares of
Repligen’s common stock issuable upon conversion of the Notes) in
any state or jurisdiction in which the offer, solicitation, or sale
of the Shares or the Notes (or any shares of Repligen’s common
stock issuable upon conversion of the Notes) would be unlawful
prior to the registration or qualification thereof under the
securities laws of any such state or jurisdiction.
About Repligen Corporation
Repligen Corporation is a global bioprocessing
company that develops and commercializes highly innovative products
that deliver cost and process efficiencies to biological drug
manufacturers worldwide. Repligen’s corporate headquarters are in
Waltham, MA (USA), with additional administrative and manufacturing
operations in Marlborough, MA; Bridgewater, NJ; Rancho Dominguez,
CA; Lund, Sweden; Breda, The Netherlands and Ravensburg,
Germany.
Cautionary Language Concerning
Forward-Looking Statements
This press release contains forward-looking
statements regarding our future business expectations, which are
subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that
statements in this press release which are not strictly historical
statements, constitute forward-looking statements, including,
without limitation, statements regarding the anticipated use of
proceeds of the proposed offerings, conversions or redemptions of
the 2016 Notes, constitute forward-looking statements identified by
words like “believe,” “expect,” “may,” “will,” “should,” “seek,”
“anticipate,” or “could” and similar expressions. Such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially
from those anticipated, including, without limitation,
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all. These and
other risks and uncertainties are described in greater detail in
the section entitled “Risk Factors” in Repligen’s most recent
Annual Report on Form 10-K on file with the Securities and Exchange
Commission and the other reports that Repligen periodically files
with the Securities and Exchange Commission. Actual results may
differ materially from those Repligen contemplated by these
forward-looking statements. These forward-looking statements
reflect management’s current views and Repligen does not undertake
to update any of these forward-looking statements to reflect a
change in its views or events or circumstances that occur after the
date hereof except as required by law.
Source:Repligen Corporation Sondra Newman Global
Head of Investor Relations(781) 419-1881 snewman@repligen.com
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