AveXis Announces Pricing of Public Offering of Common Stock
January 16 2018 - 8:18PM
AveXis, Inc. (NASDAQ:AVXS) today announced the pricing of an
underwritten public offering of 3,921,600 shares of its common
stock at a public offering price of $102.00 per share, before
underwriting discounts and commissions. 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 $375.5 million. The offering is
expected to close on or about January 19, 2018, subject to
customary closing conditions. In addition, AveXis has granted the
underwriters a 30-day option to purchase up to an additional
588,240 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 its research,
manufacturing and clinical activities to support its programs in
SMA, Rett syndrome and ALS, to fund its pre-commercial activities,
including medical affairs, development of commercial initiatives
for the potential launch of AVXS-101 and licensing activities, 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.
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, is in the pivotal phase of study
for the treatment of SMA Type 1, and a Phase 1 trial for SMA Type
2. The company also intends to expand its development of gene
therapy into two additional rare neurological monogenic disorders:
Rett syndrome and a genetic form of amyotrophic lateral sclerosis
caused by mutations in the superoxide dismutase 1 gene.
Media Inquiries:Lauren BarbieroW2O
Group646-564-2156lbarbiero@w2ogroup.com
Investor Inquiries:Jim GoffAveXis,
Inc.650-862-4134jgoff@avexis.com
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