Item 8.01 Other Events.
On August 7, 2018, Zogenix, Inc. (Zogenix or the Company) entered into an underwriting agreement (the Underwriting
Agreement) with Merrill Lynch, Pierce, Fenner & Smith Incorporated, Leerink Partners LLC and Stifel, Nicolaus & Company, Incorporated, as representatives of the several underwriters named therein (collectively, the
Underwriters), relating to the issuance and sale of 6,000,000 shares of the Companys common stock, par value $0.001 per share (the Common Stock). The price to the public in this offering is $52.00 per share. The
Underwriters have agreed to purchase the shares from the Company pursuant to the Underwriting Agreement at a price of $48.88 per share. The net proceeds to the Company from this offering are expected to be approximately $292.9 million, after
deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The offering is expected to close on or about August 10, 2018, subject to customary closing conditions. In addition, under the terms of the
Underwriting Agreement, the Company has granted the Underwriters a
30-day
option to purchase up to 900,000 additional shares of Common Stock.
The offering is being made pursuant to a shelf registration statement on Form
S-3
(Registration Statement
No. 333-220759)
filed by the Company with the Securities and Exchange Commission (the SEC) that became automatically effective on October 2, 2017, and a prospectus supplement and accompanying
prospectus filed with the SEC.
The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary
conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations,
warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by
the contracting parties.
The foregoing description of the Underwriting Agreement is not complete and is qualified in its entirety by reference to the
full text of the Underwriting Agreement, a copy of which is filed as Exhibit 1.1 to this report and is incorporated by reference herein. A copy of the opinion of Latham & Watkins LLP relating to the legality of the issuance and sale of
Common Stock in the offering is attached as Exhibit 5.1 to this report.
The Company issued press releases on August 6, 2018 announcing the
commencement of the offering and on August 7, 2018 announcing the pricing of the offering, which press releases are attached as Exhibits 99.1 and 99.2, respectively, to this report.
***
Zogenix cautions you that statements
included in this report that are not a description of historical facts are forward-looking statements. These forward-looking statements include statements regarding the completion of the offering and the expected net proceeds therefrom. The
inclusion of forward-looking statements should not be regarded as a representation by Zogenix that any of these results will be achieved. Actual results may differ from those set forth in this report due to the risks and uncertainties associated
with market conditions and the satisfaction of customary closing conditions related to the offering, as well as risks and uncertainties inherent in Zogenixs business, including those described in the Companys other filings with the SEC.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Zogenix undertakes no obligation to revise or update this report to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.