AveXis Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additiona...
January 22 2018 - 4:05PM
AveXis, Inc. (NASDAQ:AVXS) today announced the closing of its
previously announced underwritten public offering of 4,509,840
shares of its common stock at a price to the public of $102.00 per
share before underwriting discounts and commissions, including
588,240 shares sold pursuant to the underwriters’ full exercise of
their option to purchase additional shares. The net proceeds to
AveXis from the offering, after deducting the underwriting
discounts and commissions and other offering expenses payable by
AveXis, are estimated to be approximately $431.9 million.
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 acted as joint book-running managers. BMO Capital Markets
Corp. acted as lead manager.
The offering was 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 was made only by means of a written
prospectus and prospectus supplement that form a part of the
registration statement. A final prospectus supplement and
accompanying prospectus relating to and describing the terms of the
offering has been filed with the SEC. Copies of the final
prospectus supplement and accompanying prospectus 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 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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