Longboard Pharmaceuticals Announces Commencement of Public Offering of Common Stock
February 07 2023 - 4:13PM
Business Wire
Longboard Pharmaceuticals, Inc. (Nasdaq: LBPH), a clinical-stage
biopharmaceutical company focused on developing novel,
transformative medicines for neurological diseases, today announced
that it has commenced an underwritten public offering, subject to
market and other conditions, to issue and sell $20 million of
shares of its voting common stock. In connection with the proposed
offering, Longboard expects to grant the underwriters a 30-day
option to purchase up to an additional approximately $3 million of
shares of voting common stock. There can be no assurance as to
whether or when the proposed offering may be completed or as to the
actual size or terms of the proposed offering.
Evercore ISI and Cantor Fitzgerald are acting as joint
book-running managers for the proposed offering.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3, including a base prospectus,
that was previously filed with the Securities and Exchange
Commission (the “SEC”) and declared effective on October 11, 2022.
A preliminary prospectus supplement and accompanying prospectus
relating to the proposed offering will be filed with the SEC and
will be available for free on the SEC’s website located at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus relating to the proposed offering,
when available, may be obtained from:
Evercore Group L.L.C., Attention: Equity Capital Markets, 55
East 52nd Street, New York, NY 10055, by email at
ecm.prospectus@evercore.com or by phone at (888) 474-0200; or
Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park
Avenue, 4th Floor, New York, NY 10022, or by e-mail at
prospectus@cantor.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Longboard Pharmaceuticals
Longboard Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company focused on developing novel,
transformative medicines for neurological diseases. Longboard is
working to advance a portfolio of centrally acting product
candidates designed to be highly selective for specific G
protein-coupled receptors (GPCRs). Longboard’s small molecule
product candidates are based on more than 20 years of GPCR
research. Longboard is evaluating LP352, an oral, centrally acting
5-hydroxytryptamine 2C (5-HT2C) receptor superagonist, with no
observed impact on 5-HT2B and 5-HT2A receptor subtypes, in
development for the potential treatment of seizures associated with
a broad range of developmental and epileptic encephalopathies.
Longboard is also evaluating LP659, a centrally acting,
sphingosine-1-phosphate (S1P) receptor subtypes 1 and 5 modulator,
which is in development for the potential treatment of multiple
neurological diseases.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include statements
regarding, among other things, Longboard’s expectations regarding
the completion, timing and size of the proposed offering and
Longboard’s expectations with respect to granting the underwriters
a 30-day option to purchase additional shares. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Words such as “will,” “may,” “expects,”
“potential” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
based upon Longboard’s current expectations and involve assumptions
that may never materialize or may prove to be incorrect. Actual
results could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, risks and
uncertainties associated with Longboard’s business in general, the
impact of the COVID-19 pandemic, macroeconomic and geopolitical
events, such as the ongoing military conflict between Ukraine and
Russia and related sanctions and the other risks described in
Longboard’s filings with the SEC, including under the heading “Risk
Factors” contained therein, as well as the risks identified in the
registration statement and the preliminary prospectus supplement
relating to the proposed public offering. All forward-looking
statements contained in this press release speak only as of the
date on which they were made and are based on management’s
assumptions and estimates as of such date. Longboard undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were made,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230207006152/en/
Megan E. Knight Head of Investor Relations
IR@longboardpharma.com 619.592.9775
Longboard Pharmaceuticals (NASDAQ:LBPH)
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