The Medicines Company Announces Pricing of Public Offering of Common Stock
June 25 2019 - 10:30PM
Business Wire
The Medicines Company (NASDAQ:MDCO) (the “Company”) today
announced the pricing of a public offering of 4,545,455 shares of
its common stock at a public offering price of $33.00 per share.
Gross proceeds of the offering are expected to be approximately
$150 million, before underwriting discounts and commissions and
other transaction expenses. In addition, the underwriters have been
granted a 30-day option to purchase from the Company up to an
additional 681,818 shares of common stock. The Company expects to
use the net proceeds of the offering to fund its development of
inclisiran and for general corporate purposes. The offering is
expected to close on or around June 28, 2019, subject to customary
closing conditions.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are
acting as the joint book-running managers and underwriters for the
offering. A registration statement relating to these securities has
been filed with the U.S. Securities and Exchange Commission (the
“SEC”), and became effective on June 25, 2019. A copy of the
preliminary prospectus supplement relating to the offering when
filed may be obtained for free by visiting EDGAR on the SEC website
at www.sec.gov and a copy of the final prospectus supplement
relating to the offering will be filed on EDGAR when available.
Alternatively, the Company, any underwriter, or any dealer
participating in the offering will arrange to send you the final
prospectus supplement if you request it by contacting: Goldman
Sachs & Co. LLC, 200 West Street, New York, New York 10282 or
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York
10179.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described above, nor
shall there be any sale of such shares of common stock 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 The Medicines Company
The Medicines Company is a biopharmaceutical company with a
singular, relentless focus on addressing the greatest global
healthcare challenge and burden today – cardiovascular disease. Our
purpose is to halt the deadly progression of atherosclerosis and
the cardiovascular risk created by high levels of LDL-C, or bad
cholesterol. The Company is headquartered in Parsippany, New
Jersey.
Forward-Looking Statements
Statements contained in this
press release that are not purely historical, including, but not
limited to, statements about the Company, the proposed offering
described herein and the use of proceeds therefrom, are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Without limiting the foregoing, the words “believes,”
“anticipates,” “plans,” “expects,” “should,” and “potential,” and
similar expressions, are intended to identify forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties that may cause the Company’s actual
results, levels of activity, performance or achievements to be
materially different from those expressed or implied by these
forward-looking statements. Important factors that may cause or
contribute to such differences include the ability of the Company
to effectively develop inclisiran; whether inclisiran will advance
in the clinical trials process on a timely basis or at all, or
succeed in achieving its specified endpoints; whether the Company
will make regulatory submissions for inclisiran on a timely basis;
whether its regulatory submissions will receive approvals from
regulatory agencies on a timely basis or at all; the extent of the
commercial success of inclisiran, if approved; the strength,
durability and life of the Company’s patent protection for
inclisiran and whether the Company will be successful in extending
exclusivity; and such other factors as are set forth in the risk
factors detailed from time to time in the Company’s periodic
reports and registration statements filed with the SEC, including,
without limitation, the risk factors detailed in the Company's
Quarterly Report on Form 10-Q filed with the SEC on April 26, 2019,
and the preliminary prospectus supplement filed with the SEC on
June 24, 2019. The Company specifically disclaims any obligation to
update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190625006067/en/
Investor Relations Krishna Gorti, M.D. Vice President,
Investor Relations 973 290 6122 krishna.gorti@themedco.com Media
Inquiries Michael Blash Vice President, Communications 973 290
6100 michael.blash@themedco.com
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