Aurinia Prices US$166.7 Million Public Offering of Common Shares
December 09 2019 - 8:00PM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSX:AUP) (“Aurinia”
or the “Company”), a late-stage clinical biopharmaceutical company
focused on advancing voclosporin in multiple indications, today
announced the pricing of its underwritten public offering of
11,115,165 common shares (the “Offering”). The shares are being
sold at a public offering price of US$15.00 per share. The gross
offering proceeds to the Company from this Offering are expected to
be approximately US$166.7 million, before deducting underwriting
discounts and commissions and other estimated offering expenses.
All of the shares are being offered by the Company. The Offering is
expected to close on or about December 12, 2019, subject to the
satisfaction of customary closing conditions.
Jefferies LLC and SVB Leerink LLC are acting as joint
book-running managers for the Offering. H.C. Wainwright & Co.
LLC, Oppenheimer & Co. Inc., and Bloom Burton Securities Inc.
are acting as co-managers for the Offering. The Company has granted
the underwriters an option exercisable, in whole or in part, in the
sole discretion of the underwriters, to purchase 1,667,274
additional shares, for a period of up to 30 days.
The Offering is subject to customary closing conditions,
including NASDAQ and TSX approvals. For the purposes of the TSX
approval, the Company intends to rely 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 interlisted issuers on a recognized exchange, such as
NASDAQ.
The Company intends to use the net proceeds of the Offering for
pre-commercialization and launch activities, as well as working
capital and general corporate purposes.
The Offering is being 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 March 29, 2018
(the “Registration Statement”), and the Company’s existing Canadian
short form base shelf prospectus (the “Base Shelf Prospectus”)
dated March 26, 2018. A preliminary prospectus supplement relating
to the Offering has 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 “Preliminary
Prospectus”), and a final prospectus supplement relating to the
Offering (together with the Preliminary Prospectus, Base Shelf
Prospectus and the Registration Statement, the “Offering
Documents”) will be 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 will
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 will be 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
supplement will be available upon request by contacting Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022; by phone at (877) 821-7388;
or by e-mail at Prospectus_Department@Jefferies.com; or SVB Leerink
LLC, Attention: Syndicate Department, One Federal Street, 37th
Floor, Boston, MA 02110, by telephone at 1-800-808-7525, ext. 6132,
or by email at syndicate@svbleerink.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 Pharmaceuticals is a late clinical-stage
biopharmaceutical company focused on developing and commercializing
therapies to treat targeted patient populations that are impacted
by serious diseases with a high unmet medical need. The Company is
currently developing an investigational drug, for the treatment of
lupus nephritis, focal segmental glomerulosclerosis and dry eye
syndrome. The Company’s head office is in Victoria, British
Columbia and focuses its development efforts globally.
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version on businesswire.com: https://www.businesswire.com/news/home/20191209005848/en/
Investors & Media: Glenn Schulman, PharmD, MPH SVP,
Corporate Communications & IR gschulman@auriniapharma.com
Aurinia Pharmaceuticals (NASDAQ:AUPH)
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