SOUTH SAN FRANCISCO, Calif.,
Aug. 12, 2019 /PRNewswire/
-- Portola Pharmaceuticals, Inc.® (Nasdaq: PTLA)
today announced plans to offer, subject to market and other
conditions, $200 million of its
common stock in an underwritten public offering. The company
expects to grant the underwriters a 30-day option to purchase up to
an additional $30 million of its
common stock in connection with the offering. All of the shares of
common stock in the offering will be sold by Portola
Pharmaceuticals.
Goldman Sachs & Co. LLC, Citigroup, Cowen, and William Blair are acting as joint book-running
managers. Oppenheimer & Co. Inc. is acting as lead manager for
the offering. A registration statement related to the offering has
been filed with the Securities and Exchange Commission and became
effective on August 7, 2019. A
preliminary prospectus supplement and final prospectus supplement,
when available, may be obtained from Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282, by telephone at
866-471-2526, by facsimile at 212-902-9316 or by email at
Prospectus-ny@ny.email.gs.com; Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by
telephone at 1-800-831-9146; Cowen and Company, LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus
Department, by telephone at 631-592-5973 or by email at
PostSaleManualRequests@broadridge.com; or William Blair & Company, L.L.C., Attention:
Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at
800-621-0687 or by email at prospectus@williamblair.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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. Any offer, if at all, will be made only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement.
About Portola Pharmaceuticals, Inc.
Portola
Pharmaceuticals is a global, commercial-stage biopharmaceutical
company focused on the discovery, development and commercialization
of novel therapeutics that could significantly advance the fields
of thrombosis and other hematologic conditions. The Company's first
two commercialized products are Andexxa® [coagulation
factor Xa (recombinant), inactivated-zhzo], marketed in
Europe as Ondexxya®
(andexanet alfa), and Bevyxxa® (betrixaban). The company
also is advancing cerdulatinib, a SYK/JAK inhibitor being developed
for the treatment of hematologic cancers. Founded in 2003 in
South San Francisco, California,
Portola has operations in
the United States and Europe.
Forward-Looking Statements
This announcement contains
forward-looking statements, including statements relating to
Portola Pharmaceuticals' expectations regarding the completion,
timing and size of the proposed public offering. These statements
are subject to significant risks and uncertainties and actual
results could differ materially from those projected. Portola
Pharmaceuticals cautions investors not to place undue reliance on
the forward-looking statements contained in this release. These
risks and uncertainties include, without limitation, risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering. There
can be no assurance that Portola Pharmaceuticals will be able to
complete the public offering on the anticipated terms, or at all.
Risks and uncertainties relating to Portola Pharmaceuticals and its
business can be found in the "Risk Factors" section of Portola
Pharmaceuticals' Quarterly Report on Form 10-Q for the second
quarter of 2019, which was filed on August
7, 2019, and in the preliminary prospectus supplement
related to the proposed offering filed with the SEC. Portola
Pharmaceuticals undertakes no duty or obligation to update any
forward-looking statements contained in this release as a result of
new information, future events or changes in Portola
Pharmaceuticals' expectations.
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SOURCE Portola Pharmaceuticals, Inc.®