Aurinia Closes US$173.1 Million Public Offering of Common Shares & Full Exercise of Underwriters’ Option to Purchase Additi...
March 20 2017 - 3:05PM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSX:AUP) (“Aurinia”
or the “Company”), a clinical stage biopharmaceutical company
focused on the global immunology market, today announced the
closing of its previously announced underwritten public offering of
25,645,000 common shares, including 3,345,000 common shares
pursuant to the full exercise of the underwriters’ option to
purchase additional common shares (the “Offering”). The shares were
sold at a public offering price of US$6.75 per share. The gross
offering proceeds to the Company from this Offering are
approximately US$173.1 million, before deducting underwriting
discounts and commissions and other estimated offering
expenses.
Leerink Partners LLC and Cantor Fitzgerald & Co.
(collectively, the “Underwriters”) acted as joint book-running
managers for the Offering.
For the purposes of the TSX approval, the Company relied on the
exemption set forth in Section 602.1 of the TSX Company Manual,
which provides that the TSX will not apply its standards to certain
transactions involving eligible inter-listed issuers on a
recognized exchange, such as NASDAQ. The Company intends to use the
net proceeds of the Offering for research and development
activities, including Phase 3 clinical trial activities for lupus
nephritis, and working capital purposes.
The Offering was made pursuant to a U.S. registration statement
on Form F-10, declared effective by the United States Securities
and Exchange Commission (the “SEC”) on November 5, 2015 (the
“Registration Statement”), and the Company’s existing Canadian
short form base shelf prospectus (the “Base Shelf Prospectus”)
dated October 16, 2015. The prospectus supplements relating to the
Offering (together with the Base Shelf Prospectus and the
Registration Statement, the “Offering Documents”) have been filed
with the securities commissions in the provinces of British
Columbia, Alberta and Ontario in Canada, and with the SEC in the
United States. The Offering Documents contain important detailed
information about the securities being offered. Before you invest,
you should read the Offering Documents and the other documents the
Company has filed for more complete information about the Company
and the Offering. Copies of the Offering Documents are available
for free by visiting the Company’s profiles on the SEDAR website
maintained by the Canadian Securities Administrators at
www.sedar.com or the SEC’s website at www.sec.gov, as applicable.
Alternatively, copies of the prospectus supplements are available
upon request by contacting Leerink Partners LLC; Attention:
Syndicate Department; One Federal Street; 37th Floor; Boston, MA,
02110, or by phone at 1-800-808-7525, ext. 6142, or by email at
syndicate@leerink.com or Cantor Fitzgerald & Co., Attn: Capital
Markets, 499 Park Ave., 5th Floor, New York, New York 10022, or by
telephone at 212-829-7122, or by e-mail at
prospectus@cantor.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
ABOUT AURINIA
Aurinia is a clinical stage biopharmaceutical company focused on
developing and commercializing therapies to treat targeted patient
populations that are suffering from serious diseases with a high
unmet medical need. The Company is currently developing
voclosporin, an investigational drug, for the treatment of lupus
nephritis (LN). The Company is headquartered in Victoria, British
Columbia and focuses its development efforts globally.
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Investors:Aurinia Pharmaceuticals Inc.Celia EconomidesHead of IR
&
Communicationsceconomides@auriniapharma.comorMedia:Christopher
Hippolyte, 917-826-2664Christopher.hippolyte@inventivhealth.com