Amicus Therapeutics Announces Closing of Underwritten Offering of Common Stock and Full Exercise of Option to Purchase Additi...
July 18 2017 - 6:30AM
Amicus Therapeutics (Nasdaq:FOLD), a global biotechnology company
at the forefront of therapies for rare and orphan diseases, today
announced the closing of its previously announced offering of
common stock. Prior to the closing, the underwriters exercised in
full their option to purchase an additional 2,755,102 shares of
common stock. As a result, the Company issued a total of 21,122,449
shares in the offering at a price of $12.25 per share.
The gross proceeds from the offering to Amicus are expected to
be $258.8 million, before deducting underwriting discounts and
commissions and estimated offering expenses payable by Amicus. J.P.
Morgan Securities LLC and Goldman Sachs & Co. LLC acted as
joint book-running managers and BofA Merrill Lynch and Cowen acted
as co-lead managers for the offering.
The Company expects to use the net proceeds of the offering for
investment in the U.S. and international commercial infrastructure
for migalastat HCl, investment in manufacturing capabilities for
ATB200, the continued clinical development of its product
candidates, research and development expenditures, clinical and
pre-clinical trial expenditures, commercialization expenditures and
for other general corporate purposes, which may include working
capital, capital expenditures, the funding of in-licensing
agreements for product candidates, additional technologies or other
forms of intellectual property, the acquisition of assets or
businesses that are complementary to the Company’s existing
business and general and administrative expenses.
Copies of the prospectus supplement and accompanying base
prospectus relating to the offering may be obtained by contacting
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717 (telephone
number: 866-803-9204), or Goldman Sachs & Co. LLC, by mail,
Attn: Prospectus Department, 200 West Street, New York, NY 10282,
by facsimile: 212-902-9316, by email:
prospectus-ny@ny.email.gs.com; or by telephone: 866-471-2526.
About Amicus Therapeutics
Amicus Therapeutics (Nasdaq:FOLD) is a global biotechnology
company at the forefront of therapies for rare and orphan diseases.
The Company has a robust pipeline of advanced therapies for a
broad range of human genetic diseases. Amicus’ lead programs
in development include the small molecule pharmacological chaperone
migalastat as a monotherapy for Fabry disease, SD-101 for
Epidermolysis Bullosa (EB), as well as novel enzyme replacement
therapy (ERT) and biologic products for Fabry disease, Pompe
disease, and other rare and devastating diseases.
Forward-Looking Statements
Statements in this press release concerning Amicus' future
expectations, plans and prospects, including, without limitation,
statements regarding the use of proceeds from the public offering,
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results or
events may differ materially from those indicated by
forward-looking statements as a result of various risks,
uncertainties and important factors, including those set forth in
the “Risk Factors” section in the prospectus supplement relating to
the offering. In addition, all forward-looking statements are
subject to other risks detailed in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2016, as amended,
and Quarterly Report on Form 10-Q for the quarter ended March
31, 2017. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, and Amicus undertakes no
obligation to revise or update this news release to reflect events
or circumstances after the date hereof.
FOLD—G
CONTACTS:
Investors/Media:
Amicus Therapeutics
Sara Pellegrino, IRC
Senior Director, Investor Relations
spellegrino@amicusrx.com
(609) 662-5044
Media:
W2O Group
Brian Reid
breid@w2ogroup.com
(212) 257-6725
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