Adverum Biotechnologies Announces Closing of $150 Million Public Offering of Common Stock
February 14 2020 - 4:01PM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced the closing of its previously announced
underwritten public offering of 10,925,000 shares of its common
stock at a public offering price of $13.75 per share, which
included the full exercise of the underwriters’ option to purchase
up to an additional 1,425,000 shares of common stock. The gross
proceeds to Adverum before deducting underwriting discounts and
commissions and offering expenses payable by Adverum were
approximately $150.2 million.
Goldman Sachs & Co. LLC, Cowen and Company, LLC, and SVB
Leerink LLC, acted as joint book-running managers for the offering.
LifeSci Capital LLC acted as lead manager for the offering.
The shares described above were offered by Adverum
Biotechnologies pursuant to a shelf registration statement on Form
S-3 that was previously filed by Adverum Biotechnologies with the
Securities and Exchange Commission (the “SEC”) on August 8, 2019,
and became automatically effective on that date. The final
prospectus supplement and accompanying prospectus relating to and
describing the terms of the offering were filed with the SEC on
February 12, 2020 and are available on the SEC’s website located at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus related to the offering may be obtained
from: Goldman Sachs & Co. LLC by mail at 200 West Street, New
York, NY 10282, Attention: Prospectus Department, by telephone at
(866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; Cowen
and Company, LLC c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by
email at PostSaleManualRequests@broadridge.com or by telephone at
(833) 297-2926; or SVB Leerink LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA, 02110, by
telephone at 1-800-808-7525, ext. 6218, or by email at
syndicate@svbleerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
About Adverum Biotechnologies, Inc.
Adverum Biotechnologies is a clinical-stage gene therapy company
targeting unmet medical needs in ocular and rare diseases.
INVESTOR & MEDIA CONTACTS:
Investors:Myesha LacyAdverum Biotechnologies,
Inc.mlacy@adverum.com1-650-304-3892
Media:Cherilyn Cecchini, M.D.LifeSci
Communicationsccecchini@lifescicomms.com1-646-876-5196
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