MONROVIA, Calif., Dec. 1, 2016 /PRNewswire/ -- Xencor, Inc.
(NASDAQ: XNCR) today announced the pricing of an underwritten
public offering of 4,585,000 shares of its common stock, offered at
a price to the public of $24.00 per
share. The gross proceeds from this offering to Xencor are expected
to be approximately $110 million,
before deducting underwriting discounts and commissions and
offering expenses payable by Xencor. The offering is expected to
close on or about December 6, 2016,
subject to customary closing conditions. In addition, Xencor has
granted the underwriters a 30-day option to purchase up to an
aggregate of 687,750 additional shares of common stock. All of the
shares are being offered by Xencor. Xencor expects to use net
proceeds of this offering for working capital and general corporate
purposes, including additional investments in advancing its lead
compound XmAb®5871 through later stages of clinical development and
additional investment in its immune-oncology pipeline and
technology.
Leerink Partners is acting as sole book-running manager in the
offering. Canaccord Genuity and Wedbush PacGrow are acting as
co-managers in the offering.
The shares of common stock described above are being offered by
Xencor pursuant to a shelf registration statement filed by Xencor
with the Securities and Exchange Commission ("SEC") that was
declared effective on October 5,
2016. A preliminary prospectus supplement and accompanying
prospectus relating to the offering was filed with the SEC and is
available on the SEC's website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering, when available, may be
obtained from Leerink Partners LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at
syndicate@leerink.com or by telephone at (800) 808‐7525 x6142.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
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SOURCE Xencor, Inc.