Amarin Announces Proposed Public Offering of American Depositary Shares
January 29 2018 - 4:01PM
Amarin Corporation plc (NASDAQ:AMRN) today announced a registered
underwritten public offering of its American Depositary Shares.
All of the shares in the proposed offering are to be sold by
Amarin. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the offering. On January
26, 2018, the last sale price of the ADSs on The NASDAQ Global
Market was $4.27 per share.
Cantor Fitzgerald & Co. is acting as the
sole book-running manager for the offering.
Amarin intends to use the net proceeds from the
offering to expand medical education and market awareness
initiatives, including, in advance of REDUCE-IT results being
known, pilot testing of new promotional initiatives for potential
broader application following REDUCE-IT results, to increase its
inventory balances for incremental inventory build prior to
REDUCE-IT results and for general corporate and working capital
purposes.
The securities described above are being offered
by Amarin pursuant to a shelf registration statement on Form S-3ASR
(No. 333-216385) previously filed with the Securities and Exchange
Commission (the "SEC") on March 1, 2017 and automatically became
effective upon filing. The securities may be offered only by means
of a written prospectus, including a prospectus supplement, forming
a part of the effective registration statement. A preliminary
prospectus supplement and accompanying prospectus relating to the
offering will be filed with the SEC and will be available on the
SEC’s website at www.sec.gov. When available, copies of the
preliminary prospectus supplement and the accompanying prospectus
may also be obtained by contacting Cantor Fitzgerald & Co.,
Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New
York 10022, or by email at prospectus@cantor.com.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there by any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Amarin
Amarin Corporation plc is a biopharmaceutical
company focused on the commercialization and development of
therapeutics to improve cardiovascular health. Vascepa®
(icosapent ethyl) capsules, Amarin's first FDA approved product,
are a highly-pure, omega-3 fatty acid product available by
prescription.
Disclosure Notice
This press release contains forward-looking
statements, within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements related to Amarin's
public offering of American Depositary Shares, are forward-looking
statements that involve risks and uncertainties. Words such as
"intends," "plans," "expects," "may," "will" and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are not promises or guarantees.
These forward-looking statements are based upon Amarin's current
expectations. Actual events and results and the timing of events
and results could differ materially from those anticipated in such
forward-looking statements. Among the factors that could
cause actual results to differ materially from those described or
projected herein are the following: risks related to the
underwriter’s consummation of their obligation to purchase the
securities, whether Amarin will be able to satisfy its obligations
to close the offering and the risk that Amarin will not use the
proceeds from the offering in the manner contemplated, as well as
the risks, uncertainties and other matters detailed in Amarin's
filings with the U.S. Securities and Exchange Commission, including
its most recent Annual Report on Form 10-K, its most recent
Quarterly Report on Form 10-Q and the preliminary prospectus
supplement relating to the offering. Existing and prospective
investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date they
were made. Amarin undertakes no obligation to update or revise the
information contained in this press release, whether as a result of
new information, future events or circumstances or otherwise,
except as required by law.
Amarin contact information:
Investor Relations:
Elisabeth Schwartz Investor Relations and Corporate
Communications Amarin Corporation plc In U.S.: +1 (908)
719-1315 investor.relations@amarincorp.com Lee M. Stern Trout
Group In U.S.: +1 (646) 378-2992 lstern@troutgroup.com
Media Inquiries: Kristie Kuhl Finn Partners In U.S.: +1 (212)
583-2791 Kristie.kuhl@finnpartners.com
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