AveXis Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additiona...
June 26 2017 - 3:00PM
AveXis, Inc. (NASDAQ:AVXS) today announced the closing of its
previously announced underwritten public offering of 4,111,250
shares of its common stock at a price to the public of $70.00 per
share before underwriting discounts and commissions, including
536,250 shares sold pursuant to the underwriters’ full exercise of
their option to purchase additional shares. The net proceeds
to AveXis from the offering, after deducting the underwriting
discounts and commissions and other offering expenses payable by
AveXis, are estimated to be approximately $269.8 million.
AveXis intends to use its existing cash and cash equivalents and
the net proceeds of the offering to fund research and manufacturing
activities, its planned clinical trials of AVXS-101 in SMA,
including the U.S. and E.U. pivotal trials in SMA Type 1 and the
Phase 1/2a trial in SMA Type 2, its preclinical studies and Phase 1
clinical trials of its programs in Rett syndrome and ALS, and for
general corporate purposes and working capital.
Goldman Sachs & Co. LLC, Jefferies LLC and BofA Merrill
Lynch acted as joint book-running managers. BMO Capital Markets
Corp. acted as lead manager and Chardan acted as co-manager of the
offering.
The offering was made pursuant to a shelf registration statement
on Form S-3 that was filed by AveXis with the Securities and
Exchange Commission (“SEC”) and became automatically effective on
March 17, 2017. The offering was made only by means of a
written prospectus and prospectus supplement that form a part of
the registration statement. Copies of the final prospectus
supplement and accompanying prospectus may be obtained for free by
visiting EDGAR on the SEC’s website at www.sec.gov.
Alternatively, copies of the final prospectus supplement and the
accompanying prospectus may also be obtained for free from the
offices of Goldman Sachs & Co. LLC, Attention: Prospectus
Department, 200 West Street, New York, NY 10282; by telephone at
1-866-471-2526; or by email at prospectus-ny@ny.email.gs.com,
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at
1-877-821-7388; or by email at Prospectus_Department@Jefferies.com,
or BofA Merrill Lynch at NC1-004-03-43, 200 North College Street,
3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus
Department or by email at dg.prospectus_requests@baml.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of these securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the applicable
securities laws of such state or jurisdiction.
About AveXis, Inc.AveXis is a clinical-stage
gene therapy company developing treatments for patients suffering
from rare and life-threatening neurological genetic diseases. The
company’s initial proprietary gene therapy candidate, AVXS-101,
recently completed its Phase 1 clinical trial for the treatment of
SMA Type 1.
Media Inquiries:
Lauren Barbiero
W2O Group
646-564-2156
lbarbiero@w2ogroup.com
Investor Inquiries:
Jim Goff
AveXis, Inc.
650-862-4134
jgoff@avexis.com
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