Axovant Gene Therapies Announces Pricing of $65 Million Public Offering
February 19 2020 - 10:11PM
Axovant Gene Therapies Ltd. (Nasdaq: AXGT) ("Axovant") today
announced the pricing of its underwritten public offering of
14,031,336 of its common shares at a price to the public
of $3.75 per share. In addition, and in lieu of common
shares, Axovant is offering to certain investors pre-funded
warrants to purchase 3,301,998 common shares at a purchase price of
$3.74999 per pre-funded warrant, which represents the per share
public offering price for the common shares, minus the $0.00001 per
share exercise price of each such pre-funded warrant. The aggregate
gross proceeds to Axovant from the offering are expected to be
approximately $65 million before deducting underwriting
discounts and commissions and offering expenses. All of the common
shares and pre-funded warrants are being offered by Axovant. In
connection with this offering, Axovant has granted the underwriters
a 30-day option to purchase up to an additional 2,600,000 of its
common shares on the same terms and conditions. The offering is
expected to close on February 24, 2020, subject to customary
closing conditions.
SVB Leerink is acting as sole book-running manager for the
offering. Chardan is acting as lead manager for the offering.
A shelf registration statement relating to the offered
securities was filed with the Securities and Exchange Commission
(SEC), and was declared effective on January 13, 2017. A
preliminary prospectus supplement and accompanying prospectus
relating to the offering have been filed with the SEC and are
available on the SEC's website, located at www.sec.gov. Copies
of the final prospectus supplement and accompanying base prospectus
related to the offering may be obtained, when available, from SVB
Leerink LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor Boston, MA, 02110, by telephone at
1-800-808-7525, ext. 6218, or by email
at syndicate@svbleerink.com.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any of these securities, and shall not
constitute an offer, solicitation, or sale in any jurisdiction in
which such offer, solicitation, or sale is unlawful.
About Axovant Axovant Gene Therapies, part of
the Roivant family of companies, is a clinical-stage company
focused on developing a pipeline of innovative gene therapy product
candidates for debilitating neurological diseases. The company's
current pipeline of gene therapy candidates targets GM1
gangliosidosis, GM2 gangliosidosis (including Tay-Sachs disease and
Sandhoff disease), and Parkinson’s disease. Axovant is focused on
accelerating product candidates into and through clinical trials
with a team of experts in gene therapy development and through
external partnerships with leading gene therapy organizations.
Contacts:Investors and
AnalystsDavid NassifAxovant Gene TherapiesChief Financial
Officer(646) 677-6770
MediaParag Meswani Axovant Gene Therapies (212)
547-2523 investors@axovant.commedia@axovant.com
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