Royalty Pharma Announces Pricing of Secondary Offering of Class A Ordinary Shares by Selling Shareholders
October 15 2020 - 11:45PM
Royalty Pharma plc (the “Company”) (Nasdaq: RPRX) announced today
the pricing of the secondary offering of 17,343,037 shares of its
Class A ordinary shares by selling shareholders in an underwritten
public offering pursuant to a registration statement on Form S-1
filed with the U.S. Securities and Exchange Commission (“SEC”) at a
price to the public of $42.00 per share. The selling shareholders
have granted the underwriters an option to purchase up to 2,601,455
additional Class A ordinary shares. The Company will not receive
any of the proceeds from the sale of its Class A ordinary shares by
the selling shareholders. The offering is expected to close on
October 20, 2020, subject to customary closing conditions.
J.P. Morgan, Morgan Stanley, BofA Securities,
Goldman Sachs & Co. LLC and Citigroup are acting as joint lead
book-running managers and as representatives of the underwriters
for the proposed offering. Cowen, Evercore ISI, Truist Securities
and UBS Investment Bank are also acting as joint book-running
managers for the offering. BBVA, DNB Markets, Scotiabank, TD
Securities, Academy Securities, AmeriVet Securities, Blaylock Van,
LLC, Cabrera Capital Markets LLC, R. Seelaus & Co., LLC,
Ramirez & Co., Inc., Siebert Williams Shank and Tigress
Financial Partners are acting as co-managers for the offering.
This offering is being made only by means of a
prospectus. Copies of the final prospectus relating to the public
offering may be obtained, when available, from: J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, by telephone at
1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com or
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, New York 10014 or by email at
prospectus@morganstanley.com.
A registration statement on Form S-1 relating to
these securities has been filed with, and was declared effective
by, the SEC. Copies of the registration statement can be accessed
through the SEC’s website at www.sec.gov.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy, nor will 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.
About Royalty Pharma
Founded in 1996, Royalty Pharma is the largest
buyer of biopharmaceutical royalties and a leading funder of
innovation across the biopharmaceutical industry, collaborating
with innovators from academic institutions, research hospitals and
not-for-profits through small and mid-cap biotechnology companies
to leading global pharmaceutical companies. Royalty Pharma has
assembled a portfolio of royalties which entitles it to payments
based directly on the top-line sales of many of the industry’s
leading therapies. Royalty Pharma funds innovation in the
biopharmaceutical industry both directly and indirectly - directly
when it partners with companies to co-fund late-stage clinical
trials and new product launches in exchange for future royalties,
and indirectly when it acquires existing royalties from the
original innovators. Royalty Pharma’s current portfolio includes
royalties on more than 45 commercial products, including AbbVie and
J&J’s Imbruvica, Astellas and Pfizer’s Xtandi, Biogen’s
Tysabri, Gilead’s HIV franchise, Merck’s Januvia, Novartis’
Promacta, and Vertex’s Kalydeco, Symdeko and Trikafta, and three
development-stage product candidates.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements” as that term is defined in
the United States Private Securities Litigation Reform Act of 1995,
including statements that express the Company’s opinions,
expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results, in contrast
with statements that reflect historical facts. Examples include
discussion of our strategies, financing plans, growth opportunities
and market growth. In some cases, you can identify such
forward-looking statements by terminology such as “anticipate,”
“intend,” “believe,” “estimate,” “plan,” “seek,” “project,”
“expect,” “may,” “will,” “would,” “could” or “should,” the negative
of these terms or similar expressions. Forward-looking statements
are based on management’s current beliefs and assumptions and on
information currently available to the Company. However, these
forward-looking statements are not a guarantee of our performance,
and you should not place undue reliance on such statements.
Forward-looking statements are subject to many risks, uncertainties
and other variable circumstances, and other factors. Such risks and
uncertainties may cause the statements to be inaccurate and readers
are cautioned not to place undue reliance on such statements. Many
of these risks are outside of the Company’s control and could cause
its actual results to differ materially from those it thought would
occur. The forward-looking statements included in this document are
made only as of the date hereof. The Company does not undertake,
and specifically declines, any obligation to update any such
statements or to publicly announce the results of any revisions to
any such statements to reflect future events or developments,
except as required by law.
Royalty Pharma Investor Relations and
Communications+1 (212)
883-0200ir@royaltypharma.com
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