Array BioPharma Announces Proposed Public Offering
Sept 14, 2017 23:53:27 GMT
drangled and highskier like this
Post by icemandios on Sept 14, 2017 23:53:27 GMT
Well, on the scale of stupid, ARRY is probably less than a 5 of 10 (10 being really stupid).
Array BioPharma Announces Pricing of Public Offering of Common Stock
BOULDER, Colo., Sept. 14, 2017 /PRNewswire/ -- Array BioPharma Inc. (Nasdaq: ARRY) announced today the pricing of an underwritten public offering of 20,930,232 shares of its common stock at a public offering price of $10.75 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and offering expenses, are expected to be approximately $225 million. The offering is expected to close on or about September 19, 2017, subject to customary closing conditions. Array also granted the underwriters a 30-day option to purchase up to 3,139,534 additional shares of common stock. All of the shares sold in the offering are being sold by Array.
Array intends to use the net proceeds from the offering to fund research and development efforts, including clinical trials for its proprietary candidates, build and scale commercial capability, and for general corporate purposes, including general working capital purposes. Array may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies, drugs, drug candidates or other intellectual property, although it has no present commitments or agreements to do so.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Piper Jaffray & Co. is also acting as a bookrunner for the offering. Stifel and Wells Fargo Securities, LLC are acting as lead managers and SunTrust Robinson Humphrey, Inc. is acting as co-manager.
The shares are being offered by Array pursuant to a shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC) and became effective. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC, and is available on the SEC's website at www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying prospectus, and when available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, telephone: 866-803-9204; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York, 11717, Attn: Prospectus Department, telephone: 631-274-2806 ; or Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department, telephone: 800-747-3924.
About Array BioPharma
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. Eight registration studies are currently advancing related to seven Array-owned or partnered drugs: binimetinib (MEK162), encorafenib (LGX818), selumetinib (partnered with AstraZeneca), danoprevir (partnered with Roche), ipatasertib (partnered with Genentech), larotrectinib (partnered with Loxo Oncology) and tucatinib (partnered with Cascadian Therapeutics).
Array BioPharma Announces Pricing of Public Offering of Common Stock
BOULDER, Colo., Sept. 14, 2017 /PRNewswire/ -- Array BioPharma Inc. (Nasdaq: ARRY) announced today the pricing of an underwritten public offering of 20,930,232 shares of its common stock at a public offering price of $10.75 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and offering expenses, are expected to be approximately $225 million. The offering is expected to close on or about September 19, 2017, subject to customary closing conditions. Array also granted the underwriters a 30-day option to purchase up to 3,139,534 additional shares of common stock. All of the shares sold in the offering are being sold by Array.
Array intends to use the net proceeds from the offering to fund research and development efforts, including clinical trials for its proprietary candidates, build and scale commercial capability, and for general corporate purposes, including general working capital purposes. Array may also use a portion of the net proceeds to acquire or invest in complementary businesses, technologies, drugs, drug candidates or other intellectual property, although it has no present commitments or agreements to do so.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Piper Jaffray & Co. is also acting as a bookrunner for the offering. Stifel and Wells Fargo Securities, LLC are acting as lead managers and SunTrust Robinson Humphrey, Inc. is acting as co-manager.
The shares are being offered by Array pursuant to a shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC) and became effective. A preliminary prospectus supplement relating to and describing the terms of the offering has been filed with the SEC, and is available on the SEC's website at www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying prospectus, and when available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus Department, telephone: 866-803-9204; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York, 11717, Attn: Prospectus Department, telephone: 631-274-2806 ; or Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department, telephone: 800-747-3924.
About Array BioPharma
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. Eight registration studies are currently advancing related to seven Array-owned or partnered drugs: binimetinib (MEK162), encorafenib (LGX818), selumetinib (partnered with AstraZeneca), danoprevir (partnered with Roche), ipatasertib (partnered with Genentech), larotrectinib (partnered with Loxo Oncology) and tucatinib (partnered with Cascadian Therapeutics).
