Summit Therapeutics Announces Exercise of Over-Allotment Option
March 18 2015 - 1:15PM
Summit Therapeutics plc (Nasdaq:SMMT) (AIM:SUMM), the drug
discovery and development company advancing therapies for Duchenne
muscular dystrophy and C. difficile infection, today announced that
the underwriters of its initial public offering have exercised in
full their over-allotment option to purchase an additional 517,500
American Depositary Shares ("ADSs") at the initial public offering
price of $9.90 per ADS, less underwriting discounts and
commissions. After the over-allotment closing, the total number of
ADSs sold by Summit in its initial public offering has increased to
3,967,500. Each ADS represents five ordinary shares of Summit.
Summit's ordinary shares will continue to trade on the AIM market
of the London Stock Exchange.
JMP Securities and Oppenheimer & Co. acted as joint
book-running managers for the offering. Needham & Company acted
as lead manager. Copies of the final prospectus relating to this
offering may be obtained from JMP Securities LLC, Prospectus
Department, 600 Montgomery Street, 10th Floor, San Francisco, CA
94111, telephone: +1 (415) 835-8985; from Oppenheimer & Co.
Inc., Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY 10004, telephone: +1 (212) 667-8563 and from Needham
& Company, LLC, Prospectus Department, 445 Park Avenue, 4th
floor, New York, NY 10022, telephone: +1 (800) 903-3268.
A registration statement relating to these securities was
declared effective by the United States Securities and Exchange
Commission on March 4, 2015. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
any 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 Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery,
development and commercialization of novel medicines for
indications for which there are no existing or only inadequate
therapies. Summit is conducting clinical programs focused on the
genetic disease Duchenne muscular dystrophy and the infectious
disease C. difficile infection.
For more information, please
contact: |
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Summit Therapeutics |
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Glyn Edwards / Richard Pye
(UK office) |
Tel: +44 (0)1235 443 951 |
Erik Ostrowski (US office) |
+1 617 294 6607 |
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