AveXis Announces Pricing of Public Offering of Common Stock
June 20 2017 - 9:15PM
AveXis, Inc. (NASDAQ:AVXS) today announced the pricing of an
underwritten public offering of 3,575,000 shares of its common
stock. The net proceeds to AveXis from the offering, after
deducting the underwriting discounts and commissions and estimated
offering expenses payable by AveXis, are expected to be
approximately $234.5 million. The offering is expected to
close on or about June 26, 2017, subject to customary closing
conditions. In addition, AveXis has granted the underwriters a
30-day option to purchase up to an additional 536,250 shares of
common stock at the public offering price, less the underwriting
discounts and commissions.
AveXis intends to use its existing cash and cash
equivalents and the net proceeds of the offering to fund research
and manufacturing activities, its planned clinical trials of
AVXS-101 in SMA, including the U.S. and E.U. pivotal trials in SMA
Type 1 and the Phase 1/2a trial in SMA Type 2, its preclinical
studies and Phase 1 clinical trials of its programs in Rett
syndrome and ALS, and for general corporate purposes and working
capital.
Goldman Sachs & Co. LLC, Jefferies LLC and BofA
Merrill Lynch are acting as joint book-running managers. BMO
Capital Markets Corp. is acting as lead manager and Chardan is
acting as co-manager of the offering.
The offering is being made pursuant to a shelf
registration statement on Form S-3 that was filed by AveXis with
the Securities and Exchange Commission (“SEC”) and became
automatically effective on March 17, 2017. The offering is
being made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement and accompanying prospectus
relating to and describing the terms of the offering has been filed
with the SEC. A final prospectus supplement and accompanying
prospectus will be filed with the SEC. Copies of the
preliminary prospectus supplement and the accompanying prospectus
and copies of the final prospectus supplement and accompanying
prospectus, when available, may be obtained for free by visiting
EDGAR on the SEC’s website at www.sec.gov. Alternatively,
copies of the final prospectus supplement and the accompanying
prospectus, when available, may also be obtained for free from the
offices of Goldman Sachs & Co. LLC, Attention: Prospectus
Department, 200 West Street, New York, NY 10282; by telephone at
1-866-471-2526; or by email at prospectus-ny@ny.email.gs.com,
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at
1-877-821-7388; or by email at Prospectus_Department@Jefferies.com,
or BofA Merrill Lynch at NC1-004-03-43, 200 North College Street,
3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus
Department or by email at dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to
sell or a solicitation of an offer to buy any of these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
applicable securities laws of such state or jurisdiction.
About AveXis, Inc.AveXis is a
clinical-stage gene therapy company developing treatments for
patients suffering from rare and life-threatening neurological
genetic diseases. The company’s initial proprietary gene therapy
candidate, AVXS-101, recently completed its Phase 1 clinical trial
for the treatment of SMA Type 1.
Media Inquiries:
Lauren Barbiero
W2O Group
646-564-2156
lbarbiero@w2ogroup.com
Investor Inquiries:
Jim Goff
AveXis, Inc.
650-862-4134
jgoff@avexis.com
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