Rocket Pharmaceuticals Announces Closing of Public Offering & Full Exercise of the Underwriters’ Option to Purchase Additio...
November 30 2018 - 12:00PM
Business Wire
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) (“Rocket”) today
announced the closing of its previously announced underwritten
public offering of 4,082,500 shares of its common stock, which
includes the full exercise of the underwriters’ option to purchase
532,500 additional shares of its common stock, at a public offering
price of $15.50 per share. The gross proceeds to Rocket from
the offering are expected to be approximately $63.3 million, before
deducting the underwriting discounts and commissions and other
estimated offering expenses.
Rocket intends to use the net proceeds from this offering to
fund the continued development of its pipeline of gene therapies
for rare diseases, enhancements to in-house manufacturing, and
general corporate purposes.
BofA Merrill Lynch, Cowen and Evercore ISI acted as joint
book-running managers for the offering. Oppenheimer & Co. acted
as lead manager and Ladenburg Thalmann acted as co-manager.
In addition to the shares sold in the public offering, Rocket
today announced the closing of its previously announced concurrent
sale of 967,742 shares of common stock at a price of $15.50 per
share, for gross proceeds of approximately $15 million, in a
private placement to RTW Investments, LP, an existing stockholder
of the Company and an affiliate of Roderick Wong, the chairman of
Rocket’s board of directors. The sale of these shares was not
registered under the Securities Act of 1933, as amended, and such
shares are subject to customary resale restrictions. Additionally,
RTW signed a 90-day lock-up with respect to all shares of Rocket
beneficially held by RTW.
The public offering was made by Rocket pursuant to an effective
shelf registration statement on Form S-3 that was previously filed
with the U.S. Securities and Exchange Commission (the “SEC”) and
declared effective by the SEC. A final prospectus supplement
relating to and describing the terms of this offering was filed
with the SEC on November 29, 2018. Copies of the final prospectus
supplement and the accompanying prospectus relating to these
securities may be obtained from BofA Merrill Lynch, NC1-004-03-43,
200 North College Street, Third Floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department, or by email at
dg.prospectus_requests@baml.com, Cowen and Company, LLC, c/o
Broadridge Financial Services, 1155 Long Island Avenue, Edgewood,
NY 11717, Attention: Prospectus Department, or by telephone at
(631) 274-2806 and Evercore Group L.L.C., Attention: Equity Capital
Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by
telephone at 888-474-0200, or by email at
ecm.prospectus@evercore.com. You may also obtain these documents
free of charge by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
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
Various statements in this release concerning Rocket’s future
expectations, plans and prospects, including without limitation,
the anticipated use of the net proceeds of the offerings, may
constitute forward-looking statements for the purposes of the safe
harbor provisions under The Private Securities Litigation Reform
Act of 1995 and other federal securities laws and are subject to
substantial risks, uncertainties and assumptions. You should not
place reliance on these forward-looking statements, which often
include words such as “anticipate,” “believe,” “contemplate,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “seek,” “should,” “suggest,”
“target,” “will,” “will give,” “would,” or similar terms,
variations of such terms or the negative of those terms. Although
Rocket believes that the expectations reflected in the
forward-looking statements are reasonable, Rocket cannot guarantee
such outcomes. Actual results may differ materially from those
indicated by these forward-looking statements as a result of
various important factors, including, without limitation, changes
as a result of market conditions or for other reasons, the risk
that the offerings will not be consummated, and the impact of
general economic, industrial or political conditions in the United
States or internationally, as well as those risks more fully
discussed in the section entitled “Risk Factors” in Rocket's Annual
Report on Form 10-K for the year ended December 31, 2017.
Accordingly, you should not place undue reliance on these
forward-looking statements. All such statements speak only as of
the date made, and Rocket undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20181130005330/en/
Claudine Prowse, Ph.D.SVP Corporate Development and IRORocket
Pharmaceuticals, Inc.The Empire State Building, Suite 7530New York,
NY 10118www.rocketpharma.cominvestors@rocketpharma.com
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