Agenus Announces Closing of Public Offering and Exercise of Over-Allotment Option
February 10 2014 - 10:01AM
Business Wire
Agenus Inc. (Nasdaq: AGEN) today announced the closing of its
previously announced underwritten registered public offering of
common stock. The total number of shares of common stock sold was
22,236,000, composed of 19,335,653 shares of common stock initially
offered and an additional 2,900,347 shares of common stock sold
pursuant to the exercise of the underwriters' over-allotment
option, in each case at a public offering price of $2.70 per share.
All of the shares in the offering were sold by Agenus. The net
proceeds to Agenus from the offering, after deducting underwriting
discounts and commissions and estimated offering expenses, are
approximately $56.0 million.
William Blair & Company, L.L.C. acted as sole book-running
manager for the offering. Maxim Group LLC acted as lead manager and
H.C. Wainwright & Co., LLC and MLV & Co. LLC acted as
co-managers for the offering. Geller Biopharm Inc. acted as
financial advisor for the offering.
The shares were offered by Agenus pursuant to a shelf
registration statement that was previously filed with, and declared
effective by, the Securities and Exchange Commission (SEC). The
final prospectus supplement and accompanying prospectus related to
this offering are located on the SEC’s website, www.sec.gov. Copies
of the final prospectus supplement and accompanying prospectus may
also be obtained from William Blair & Company, L.L.C.,
Attention: Prospectus Department, 222 West Adams Street, Chicago,
IL 60606, by telephone at (800) 621-0687, or by e-mail at
prospectus@williamblair.com.
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 offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Agenus
Agenus Inc. is a biotechnology company working to develop
treatments for cancers and infectious diseases. The company is
focused on immunotherapeutic products based on strong platform
technologies with multiple product candidates advancing through the
clinic, including several product candidates that have advanced
into late-stage clinical trials through corporate partners. Between
Agenus and its partners, 23 programs are in clinical
development.
Additional Information
Statements made in this press release include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, regarding, but not limited to, the use of
proceeds from the offering. Forward-looking statements can be
identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which Agenus cannot predict with accuracy and some of which
Agenus might not even anticipate, and involve factors that may
cause actual results to differ materially from those projected or
suggested. These risks and uncertainties include, among others, the
factors described under the Risk Factors section of Agenus’ Current
Report on Form 8-K, which was filed with the SEC on February 4,
2014. Agenus cautions investors not to place considerable reliance
on the forward-looking statements contained in this release. These
statements speak only as of the date of this press release, and
Agenus undertakes no obligation to update or revise the
statements.
Media and Investor Contact:Agenus Inc.Jonae R. Barnes,
617-818-2985Vice PresidentInvestor Relations andCorporate
Communicationsjonae.barnes@agenusbio.com
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