Lion Biotechnologies Announces Pricing of Secondary Offering of Shares by Selling Stockholders
May 01 2015 - 8:45AM
Lion Biotechnologies, Inc. (Nasdaq:LBIO), a biotechnology company
that is developing novel cancer immunotherapies based on tumor
infiltrating lymphocytes, today announced the pricing of an
underwritten secondary offering of 4,750,000 shares of Lion's
common stock at a price to the public of $10.00 per share. All
shares were offered by the selling stockholders, including certain
members of Board of Directors of the Company and certain of their
affiliates. Lion Biotechnologies will not sell any shares or
receive any proceeds from the offering. The offering is expected to
close on or about May 6, 2015, subject to the satisfaction of
customary closing conditions.
Jefferies LLC is acting as sole book-running manager for the
offering.
A shelf registration statement on Form S-3 relating to the
underwritten offering of the shares of common stock described above
was filed by Lion Biotechnologies with the Securities and Exchange
Commission ("SEC") and has been declared effective by the SEC. A
preliminary prospectus supplement and accompanying prospectus
related to the offering, and a final prospectus supplement and
accompanying prospectus will be filed with the SEC and will be
available on the SEC's website located at www.sec.gov. Copies of
the final prospectus supplement and the accompanying prospectus
relating to this offering, when available, may be obtained from
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at
(877) 547-6340, or by e-mail at
Prospectus_Department@Jefferies.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 state or other jurisdiction
in which such offer, solicitation, or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Lion Biotechnologies
Lion Biotechnologies, Inc. is engaged in the development of
T-cells and engineered T-cells for the treatment of various
cancers. The company's lead product candidate is a ready-to-infuse
autologous T-cell therapy utilizing tumor-infiltrating lymphocytes
(TIL) for the treatment of patients with Stage 4 metastatic
melanoma, and is based on a clinical Cooperative Research and
Development Agreement with the National Cancer Institute. TIL
therapy is also being evaluated in physician-sponsored clinical
trials at MD Anderson Cancer Center and the H. Lee Moffitt Cancer
Center & Research Institute. For more information, please visit
http://www.lionbio.com.
Forward Looking Statements
This press release contains certain forward-looking statements,
including statements regarding the company's expectations with
respect to the closing of the offering by the selling stockholders.
These statements are subject to a number of risks and uncertainties
which may cause our actual results or outcomes to be materially
different from those expressed or implied by the forward-looking
statements. These risks and uncertainties include market risks and
uncertainties and risks and uncertainties relating to the
satisfaction of customary closing conditions for an underwritten
offering of securities, as well as the risks and uncertainties
described in Lion's most recent Annual Report on Form 10-K and its
other filings with the SEC. Except as required by law, Lion
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACT: Investor Relations
The Trout Group
Elizabeth Broder
646-378-2945
ebroder@troutgroup.com
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