Otonomy Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional...
January 12 2016 - 9:27AM
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 closing of its previously announced underwritten public
offering of 5,750,000 shares of its common stock (including 750,000
shares sold pursuant to the underwriters' full exercise of their
option to purchase additional shares) at a price to the public of
$20.00 per share, for total gross proceeds of $115 million, before
deducting the underwriting discounts and commissions and other
offering expenses. All of the common stock was sold by Otonomy.
BofA Merrill Lynch, Cowen and Company and Piper Jaffray acted as
joint book-running managers for the offering. Sanford C. Bernstein
and SunTrust Robinson Humphrey acted 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.
The final prospectus supplement and accompanying prospectus
relating to the offering have been filed with the SEC and are
available on the SEC’s website at www.sec.gov. Copies of the final
prospectus supplement and the accompanying prospectus relating to
the offering 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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