Otonomy Announces Proposed Public Offering of Common Stock
January 05 2016 - 4:01PM
Otonomy, Inc. (NASDAQ:OTIC), a biopharmaceutical company
focused on the development and commercialization of innovative
therapeutics for diseases and disorders of the ear, today announced
that it has commenced an underwritten public offering of
approximately $100 million of its common stock. All shares of
common stock to be sold in the offering will be offered by Otonomy.
In addition, Otonomy expects to grant the underwriters a 30-day
option to purchase up to an additional approximately $15 million of
its common stock. The number of shares to be offered and the price
for the proposed offering have not yet been determined.
BofA Merrill Lynch, Cowen and Company and Piper Jaffray are
acting as joint book-running managers of the proposed offering.
Sanford C. Bernstein and SunTrust Robinson Humphrey are acting as
co-managers. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
A shelf registration statement (File No. 333-206752) was
previously filed with the Securities and Exchange Commission (SEC)
on September 3, 2015 and became effective on September 14, 2015. A
preliminary prospectus supplement relating to and describing the
terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov. When available,
copies of the preliminary prospectus supplement and the
accompanying prospectus relating to these securities may also be
obtained by contacting one of the following: BofA Merrill Lynch,
222 Broadway, New York, NY 10038, Attn: Prospectus Department, or
by email at dg.prospectus_requests@baml.com; Cowen and Company,
LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn: Prospectus Department; or Piper Jaffray
& Co., 800 Nicollet Mall, Suite 1000, Minneapolis, MN 55402, or
by telephone at 800-747-3924, or by email at
prospectus@pjc.com. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
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
the registration or qualification under the securities laws of such
state or jurisdiction.
Contacts:
Media Inquiries
Canale Communications
Heidi Chokeir, Ph.D.
Senior 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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