Assembly Biosciences Announces Pricing of $125 Million Public Offering
December 12 2019 - 06:30AM
Assembly Biosciences, Inc. (Nasdaq: ASMB) (“Assembly”), today
announced the pricing of an underwritten public offering of
5,151,515 shares of its common stock to the public at $16.50 per
share. In addition, and in lieu of common stock, Assembly is
offering to a certain existing investor pre-funded warrants to
purchase up to an aggregate of 2,424,242 shares of common stock at
a purchase price of $16.499 per pre-funded warrant, which
represents the per share public offering price for the common stock
less the $0.001 per share exercise price for each pre-funded
warrant. The offering is expected to close on or about December 16,
2019, subject to the satisfaction of customary closing conditions.
The aggregate gross proceeds to Assembly from this offering are
expected to be approximately $125 million, before deducting
underwriting discounts and commissions and other offering expenses
payable by Assembly. Assembly has granted the underwriters a 30-day
option to purchase up to an additional 1,136,363 shares of common
stock at the offering price, less the underwriting discounts and
commissions. Assembly intends to use the net proceeds from the sale
of the common stock to fund clinical trials, nonclinical studies,
research and development and for general corporate purposes.
Jefferies LLC, SVB Leerink LLC and William Blair & Company,
L.L.C. are acting as joint bookrunning managers for the offering.
Mizuho Securities USA LLC and Robert W. Baird & Co.
Incorporated are acting as co-managers for the offering.
The securities described above are being offered pursuant to a
shelf registration statement (File No. 333-222366), which was
declared effective by the U.S. Securities and Exchange Commission
(“SEC”) on January 10, 2018. A final prospectus supplement
relating to this 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 final prospectus supplement and accompanying
prospectuses may be obtained by contacting Jefferies LLC,
Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, by telephone at (877)
821-7388, or by email at prospectus_department@jefferies.com; SVB
Leerink LLC, Attention: Syndicate Department, One Federal Street,
37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext.
6132, or by email at syndicate@svbleerink.com; or William Blair
& Company, L.L.C., Attention: Prospectus Department, 150 North
Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687,
or by email at prospectus@williamblair.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 Assembly Biosciences Assembly
Biosciences, Inc. is a clinical-stage biotechnology company
developing innovative therapeutics targeting hepatitis B virus
(HBV) and diseases associated with the microbiome. The HBV program
is focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients. The microbiome program is developing novel
oral live microbial biotherapeutic candidates with Assembly’s fully
integrated platform, including a robust process for strain
identification and selection, GMP banking and production, and
targeted delivery to the lower gastrointestinal tract with the
GEMICEL® technology.
Forward-Looking Statements
The information in this press release contains forward-looking
statements regarding future events, including statements about
Assembly’s expectations regarding the terms of the offering or
completion of the offering. Assembly intends such
forward-looking statements to be covered by the safe harbor
provisions contained in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Actual results or developments may differ materially
from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risks and uncertainties related to market and
other conditions, the satisfaction of customary closing conditions
related to the offering and the impact of general economic,
industry or political conditions in the United States or
internationally. There can be no assurance that Assembly will be
able to complete the offering on the anticipated terms, or at all.
More information about the risks and uncertainties faced by
Assembly are more fully detailed under the heading “Risk Factors”
in Assembly's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2019 filed with the Securities and Exchange
Commission. You should not place undue reliance on these
forward-looking statements, which apply only as of the date of this
press release. Except as required by law, Assembly assumes no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contacts Investors: Lauren Glaser (415)
521-3828 lglaser@assemblybio.com
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