Adaptive Biotechnologies Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purc...
July 01 2019 - 3:05PM
Adaptive Biotechnologies Corporation (Nasdaq:ADPT) (“Adaptive”), a
commercial-stage biotechnology company that reads and translates
the genetic code of the adaptive immune system to develop
personalized diagnostics and therapeutics to improve patient lives,
today announced the closing of its initial public offering of
15,000,000 shares of common stock, and the exercise in full of the
underwriters’ option to purchase 2,250,000 additional shares of its
common stock, at a public offering price of $20.00 per share. The
gross proceeds from the offering were approximately $345.0 million,
before deducting underwriting discounts and commissions and
estimated offering expenses. The shares commenced trading on
The Nasdaq Global Select Market on June 27, 2019, under the ticker
symbol “ADPT”.
Goldman Sachs & Co. LLC, J.P. Morgan and BofA Merrill Lynch
acted as joint lead book-running managers for the offering. Cowen
and Guggenheim Securities acted as book-running managers for the
offering. William Blair and BTIG acted as co-managers for the
offering.
A registration statement relating to the shares being sold in
this offering was declared effective by the Securities and Exchange
Commission on June 26, 2019. The offering was made only by means of
a prospectus. Copies of the final prospectus relating to this
offering may be obtained, from: Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, New
York 10282, or by telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at (866) 803-9204 or by email at
prospectus-eq_fi@jpmchase.com; or BofA Merrill Lynch,
NC1-004-03-43; 200 North College Street, 3rd floor, Charlotte NC
28255-0001, Attn: Prospectus Department, Email:
dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Adaptive Biotechnologies Adaptive
Biotechnologies is a commercial-stage biotech company focused on
harnessing the inherent biology of the adaptive immune system to
transform the diagnosis and treatment of disease. We believe the
adaptive immune system is nature’s most finely tuned diagnostic and
therapeutic for most diseases, but the inability to decode it has
prevented the medical community from fully leveraging its
capabilities. Our proprietary immune medicine platform reveals and
translates the massive genetics of the adaptive immune system with
scale, precision and speed to develop products in life sciences
research, clinical diagnostics, and drug discovery. We have two
commercial products, and a robust clinical pipeline to diagnose,
monitor and enable the treatment of diseases such as cancer,
autoimmune conditions and infectious diseases. Our goal is to
develop and commercialize immune-driven clinical products tailored
to each individual patient.
Caution Regarding Forward-Looking
StatementsThis press release may contain forward-looking
statements regarding Adaptive’s current expectations, including its
ability to read and translate the genetic code of the adaptive
immune system to develop personalized diagnostics and therapeutics
to improve patient lives. Words such as “may,” “believe,”
“expect,” “estimate,” “predict,” or similar expressions, or
statements regarding intent, belief, or current expectations are
forward-looking statements.
These statements are not guarantees of future performance and
are subject to certain risks, uncertainties and assumptions that
are difficult to predict. Factors that could cause actual results
to differ include, but are not limited to, those described more
fully in the section captioned “Risk Factors” in the final
prospectus related to the public offering filed with the Securities
and Exchange Commission. Forward-looking statements contained in
this announcement are made as of this date, and Adaptive
Biotechnologies undertakes no duty to update such information
except as required under applicable law.
INVESTOR CONTACT:Lynn Lewis or Carrie
Mendivil415-937-5405investors@adaptivebiotech.com
MEDIA CONTACT:Beth KeshishianDirector,
Corporate Communications 917-912-7195media@adaptivebiotech.com
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