Nabriva Therapeutics Announces $38 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules
May 29 2020 - 6:31PM
Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical
company engaged in the commercialization and development of
innovative anti-infective agents to treat serious infections, today
announced that it has entered into a definitive agreement with
several healthcare-focused institutional investors, including
Fidelity Management & Research Company, LLC, for the purchase
and sale of (i) an aggregate of 41,445,373 ordinary shares and (ii)
warrants to purchase up to an aggregate of 41,445,373 ordinary
shares in a registered direct offering priced at-the-market under
Nasdaq rules. Each ordinary share and accompanying warrant
are being sold together at a combined purchase price of $0.91686.
The warrants have an exercise price of $0.792 per share, are
exercisable on the issuance date and will expire on the two-year
anniversary of the issuance date.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
The gross proceeds to Nabriva Therapeutics from
the offering, before deducting the placement agent’s fees and other
estimated offering expenses payable by Nabriva Therapeutics, are
approximately $38 million. The offering is expected to close
on or about June 2, 2020, subject to the satisfaction of customary
closing conditions.
The securities described above are being offered
and sold in this registered direct offering pursuant to a shelf
registration statement, including a prospectus, on Form S-3
that was filed by Nabriva Therapeutics with the Securities and
Exchange Commission (“SEC”) and was declared effective on April 27,
2018. A prospectus supplement relating to and describing the terms
of the offering will be filed with the SEC and will be available on
the SEC’s website at www.sec.gov. The offering is being made only
by means of a prospectus and related prospectus supplement. When
available, electronic copies of the prospectus and related
prospectus supplement may also be obtained by contacting H.C.
Wainwright & Co., LLC, 430 Park Avenue, 3rd
Floor, New York, NY 10022, via email at
placements@hcwco.com or via telephone at (646) 975-6996.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy Nabriva Therapeutics’
securities, 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 Nabriva Therapeutics
plc
Nabriva Therapeutics is a biopharmaceutical
company engaged in the commercialization and development of
innovative anti-infective agents to treat serious infections.
Nabriva Therapeutics received U.S. Food and Drug Administration
approval for XENLETA (lefamulin injection, lefamulin tablets), the
first systemic pleuromutilin antibiotic for community-acquired
bacterial pneumonia (CABP). Nabriva Therapeutics is also developing
CONTEPO™ (fosfomycin) for injection, a potential first-in-class
epoxide antibiotic for complicated urinary tract infections (cUTI),
including acute pyelonephritis.
Forward-Looking Statements
Any statements in this press release about
future expectations, plans and prospects for Nabriva Therapeutics,
including but not limited to statements about a prospective
financing and other statements containing the words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,”
“predict,” “project,” “target,” “potential,” “likely,” “will,”
“would,” “could,” “should,” “continue,” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including:
market and other financing conditions, Nabriva Therapeutics’
ability to satisfy customary closing conditions related to the
registered direct offering and to consummate the offering,
fluctuations in Nabriva Therapeutics’ share price and such other
important factors as are set forth in Nabriva Therapeutics’ annual
and quarterly reports and other filings on file with the SEC.
In addition, the forward-looking statements included in this press
release represent Nabriva Therapeutics’ views as of the date of
this press release. Nabriva Therapeutics anticipates that
subsequent events and developments may cause its views to change.
However, while Nabriva Therapeutics may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Nabriva Therapeutics’ views as of any date subsequent
to the date of this press release.
CONTACTS:
For Investors Gary Sender Nabriva Therapeutics
plc IR@Nabriva.com
For Media Mike Beyer Sam Brown Inc.
mikebeyer@sambrown.com 312-961-2502
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