Cytokinetics Announces Pricing of Public Offering of Common Stock
May 22 2024 - 10:30PM
Cytokinetics, Incorporated (Nasdaq: CYTK) today announced the
pricing of an underwritten public offering of 9,803,922 shares of
its common stock at a price to the public of $51.00 per share,
before underwriting discounts and commissions. The gross proceeds
to Cytokinetics from the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
Cytokinetics, are expected to be approximately $500 million. The
offering is expected to close on May 28, 2024, subject to customary
closing conditions. Additionally, Cytokinetics has granted the
underwriters a 30-day option to purchase up to an additional
1,470,588 shares of its common stock at the public offering price,
less underwriting discounts and commissions. All of the shares of
common stock in the offering will be sold by Cytokinetics.
J.P. Morgan, Goldman Sachs & Co. LLC and
Morgan Stanley are acting as sole joint book-running managers for
the offering.
The securities described above are being offered
by Cytokinetics pursuant to a shelf registration statement
(including a base prospectus) filed on November 18, 2022 with the
Securities and Exchange Commission (SEC), which has become
automatically effective. A preliminary prospectus supplement and
accompanying prospectus relating to the offering have been filed,
and a final prospectus supplement and accompanying prospectus
relating to the offering will be filed, with the SEC and
can be accessed for free on the SEC's website
at http://www.sec.gov. Copies of the final prospectus
supplement and accompanying prospectus relating to the offering,
when available, may be obtained from: J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, by email at prospectus-eq_fi@jpmchase.com
and postsalemanualrequests@broadridge.com; Goldman Sachs & Co.
LLC, Attention: Prospectus Department, 200 West Street, New York,
New York 10282, by telephone at (866) 471-2526, or by email at
Prospectus-ny@ny.email.gs.com; or Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, New York 10014, by telephone at 866-718-1649 or by email at
prospectus@morganstanley.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Cytokinetics
Cytokinetics is a late-stage biopharmaceutical
company focused on discovering, developing and commercializing
first-in-class muscle activators and next-in-class muscle
inhibitors as potential treatments for debilitating diseases in
which muscle performance is compromised and/or declining.
Forward-Looking Statements
Certain of the statements made in this press
release are forward looking, such as those, among others, relating
to Cytokinetics’ expectations regarding the completion of the
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to market and other
conditions and the satisfaction of customary closing conditions
related to the public offering. There can be no assurance that
Cytokinetics will be able to complete the public offering on the
anticipated terms, or at all. You should not place undue reliance
on these forward-looking statements, which apply only as of the
date of this press release. Additional risks and uncertainties
relating to the public offering, Cytokinetics and its business can
be found under the heading “Risk Factors” in Cytokinetics’
Quarterly Report on Form 10-Q for the first quarter of 2024, which
was filed on May 10, 2024, and other filings with the SEC, and in
the preliminary prospectus supplement related to the public
offering, filed with the SEC on May 22, 2024. Except as otherwise
required by law, Cytokinetics does not undertake any obligation to
update forward-looking statements and expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in its expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statements are based.
Contact:CytokineticsDiane WeiserSenior Vice President, Corporate
Affairs(415) 290-7757
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