Otonomy Announces Pricing of Follow-on Public Offering
January 22 2015 - 8:34PM
Otonomy, Inc. (Nasdaq:OTIC), a clinical-stage biopharmaceutical
company focused on the development and commercialization of
innovative therapeutics for diseases and disorders of the inner and
middle ear, today announced the pricing of its follow-on public
offering of 2,550,000 shares of its common stock at a price to the
public of $29.25 per share, for total gross proceeds of
approximately $75 million before deducting underwriting discounts
and commissions and other offering expenses. The offering is
expected to close on January 28, 2015, subject to customary closing
conditions. In addition, Otonomy has granted the underwriters a
30-day option to purchase up to 382,500 additional shares of common
stock at such offering price, less customary underwriting discounts
and commissions. All of the common stock is being offered by
Otonomy.
J.P. Morgan Securities LLC is acting as the sole book-running
manager for the offering, Piper Jaffray & Co. and Cowen and
Company, LLC are acting as lead managers, and Sanford C. Bernstein
& Co., LLC is acting as co-manager.
A registration statement relating to these securities has been
filed with the SEC and became effective on January 22, 2015. The
offering is being made only by means of a prospectus. A copy of the
final prospectus relating to the offering when available may be
obtained from J.P. Morgan Securities LLC, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone at (866) 803-9204.
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 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.
CONTACT: Media Inquiries
Canale Communications
Heidi Chokeir, Ph.D.
Vice President
619.849.5377
heidi@canalecomm.com
Investor Inquiries
Westwicke Partners
Robert H. Uhl
Managing Director
858.356.5932
robert.uhl@westwicke.com
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