Clovis Oncology Announces Renewal of At-The-Market Equity Offering Program
August 16 2021 - 4:21PM
Business Wire
Clovis Oncology, Inc. (NASDAQ:CLVS) announced today that it has
filed a prospectus supplement with the U.S. Securities and Exchange
Commission (“SEC”) to renew its previously established ATM facility
under which it may offer and sell, from time to time, additional
shares of its common stock having an aggregate offering price of up
to $125,000,000 through an “at-the-market” equity offering program
(the “ATM Program”). The timing and amount of any sales will be
determined by a variety of factors considered by Clovis
Oncology.
Shares of Clovis Oncology common stock will be offered through
J.P. Morgan Securities LLC (“JPM”) and BofA Securities, Inc. (“BofA
Securities”), who are serving as the distribution agents. JPM and
BofA Securities may sell the shares of our common stock by any
method deemed to be an “at-the-market offering” defined by Rule
415(a)(4) of the Securities Act of 1933, as amended, including
without limitation, sales in ordinary brokers’ transactions,
including directly on the Nasdaq Global Select Market or into any
other existing trading market for the shares, or to or through a
market maker, in block transactions or by any other method
permitted by law, including privately negotiated transactions and
to JPM and BofA Securities as principals for their own account.
Sales may be made at market prices prevailing at the time of a sale
or at prices related to prevailing market prices or at negotiated
prices. As a result, sales prices may vary.
Clovis Oncology intends to use the net proceeds from any sales
of its common stock under the ATM Program for general corporate
purposes, including funding of its development programs, sales and
marketing expenses associated with Rubraca® (rucaparib), repayment,
repurchase or refinance of its debt obligations, payment of
milestones pursuant to its license agreements, general and
administrative expenses, acquisition or licensing of additional
product candidates or businesses and working capital.
Clovis Oncology’s prospectus supplement filed today with the SEC
supplements information contained in the accompanying prospectus
contained in the shelf registration statement on Form S-3 (File No.
333-253485), as amended for the offering. Prospective investors
should read the prospectus in that registration statement, the
prospectus supplement and all other documents that Clovis Oncology
has filed with the SEC for more complete information about Clovis
Oncology, including information pertaining to the ATM Program and
the risks associated with investing in Clovis Oncology. Copies of
the prospectus supplement and related prospectus may be obtained
from J. P. Morgan Securities LLC, Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email
to prospectus-eq_fi@jpmchase.com, or from BofA Securities,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC
28255-0001, Attn: Prospectus Department or by email to
dg.prospectus_requests@bofa.com. You may also obtain these
documents free of charge when they are available by visiting EDGAR
on the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a
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 Clovis Oncology
Clovis Oncology, Inc. is a biopharmaceutical company focused on
acquiring, developing and commercializing innovative anti-cancer
agents in the U.S., Europe and additional international markets.
Clovis Oncology targets development programs at specific subsets of
cancer populations, and simultaneously develops, with partners, for
those indications that require them, diagnostic tools intended to
direct a compound in development to the population that is most
likely to benefit from its use. Clovis Oncology is headquartered in
Boulder, Colorado with additional office locations in the U.S. and
Europe.
To the extent that statements contained in this press release
are not descriptions of historical facts regarding Clovis Oncology,
they are forward-looking statements reflecting the current beliefs
and expectations of management. Words such as “believes,”
“anticipates,” “plans,” “expects,” “indicates,” “will,” “intends,”
“potential,” “suggests,” “assuming,” “designed,” and similar
expressions are intended to identify forward-looking statements.
Such forward-looking statements involve substantial risks and
uncertainties that could cause Clovis Oncology’s actual results,
performance or achievements to differ significantly from those
expressed or implied by the forward-looking statements. Such risks
and uncertainties include, among others, our ability to sell shares
of our common stock under the ATM Program, the conditions affecting
the capital markets, general economic, industry, or political
conditions, including the impact of the COVID-19 pandemic. Clovis
Oncology undertakes no obligation to update or revise any
forward-looking statements. For a further description of the risks
and uncertainties that could cause actual results to differ from
those expressed in these forward-looking statements, as well as
risks relating to the business of the company in general, see the
prospectus supplement and related prospectus for this offering as
well as Clovis Oncology’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and its other reports filed with the
Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20210816005684/en/
Anna Sussman 303.625.5022 asussman@clovisoncology.com
Breanna Burkart 303.625.5023 bburkart@clovisoncology.com
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