Otonomy Announces Pricing of Public Offering of Common Stock
January 06 2016 - 7:39PM
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
the pricing of an underwritten public offering of 5,000,000 shares
of its common stock at a price to the public of $20.00 per share,
for total gross proceeds of approximately $100 million before
deducting underwriting discounts and commissions and other offering
expenses. The offering is expected to close on or about January 12,
2016, subject to customary closing conditions. In addition, Otonomy
has granted the underwriters a 30-day option to purchase up to an
additional 750,000 shares of its common stock at such offering
price, less customary underwriting discounts and commissions. All
of the common stock is being sold by Otonomy.
BofA Merrill Lynch, Cowen and Company and Piper Jaffray are
acting as joint book-running managers for the offering. Sanford C.
Bernstein and SunTrust Robinson Humphrey are acting as
co-managers.
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 was filed with the SEC on January 5, 2016.
The final prospectus supplement relating to 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 final 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.
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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