Verona Pharma Announces Closing of Exercise of Underwriters’ Over-allotment Option
May 18 2017 - 1:09PM
Verona Pharma plc (AIM:VRP) (NASDAQ:VRNA) (“Verona Pharma”), a
clinical-stage biopharmaceutical company focused on developing and
commercialising innovative therapeutics for the treatment of
respiratory diseases with significant unmet medical needs,
announces today the closing of the exercise by the underwriters of
the over-allotment option to purchase additional ADSs in connection
with Verona Pharma’s previously announced global offering of new
ordinary shares, comprising American Depositary Shares (“ADSs”) and
ordinary shares (the “Global Offering”). The underwriters have
purchased an additional 692,385 ADSs, representing 5,539,080
ordinary shares, at a price of $13.50 per ADS, for additional
aggregate proceeds to Verona Pharma of approximately $9.3 million
and total aggregate proceeds in the Global Offering of
approximately $89.3 million, before deducting underwriting
discounts and commissions and estimated offering expenses. Each ADS
offered represents eight ordinary shares of Verona Pharma.
The ADSs trade on the NASDAQ Global Market under
the ticker symbol “VRNA”. Verona Pharma’s ordinary shares are
admitted to trading on the AIM market of the London Stock Exchange
(“AIM”) under the symbol “VRP”.
Jefferies and Stifel acted as joint book-running
managers for the Global Offering. Wedbush PacGrow and SunTrust
Robinson Humphrey acted as co-managers.
A registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on April 26, 2017. The Global Offering was made only by
means of a prospectus. Copies of the final prospectus
relating to and describing the terms of the Global Offering may be
obtained from the offices of Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by telephone at (877) 547-6340, or by e-mail at
Prospectus_Department@Jefferies.com; or from Stifel, Nicolaus &
Company, Incorporated, Attention: Syndicate, One Montgomery Street,
Suite 3700, San Francisco, California 94104, or by telephone at
(415) 364-2720, or by e-mail at syndprospectus@stifel.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 the
registration or qualification under the securities laws of such
state or jurisdiction.
For readers in the European Economic
Area
In any EEA Member State that has implemented the
Prospectus Directive (as defined below), this communication is only
addressed to and directed at qualified investors in that Member
State within the meaning of the Prospectus Directive. The term
“Prospectus Directive” means Directive 2003/71/EC (and amendments
thereto, including Directive 2010/73/EU, to the extent implemented
in each relevant Member State), together with any relevant
implementing measure in the relevant Member State.
For readers in the United
Kingdom
There will be no offer of ADSs or ordinary
shares to the public in the United Kingdom.
This communication, in so far as it constitutes
an invitation or inducement to enter into investment activity
(within the meaning of section 21 of the Financial Services and
Markets Act 2000 as amended (“FSMA”)) in connection with the
securities which are the subject of the offering described in this
press release or otherwise, is being directed only at (i) persons
who are outside the United Kingdom or (ii) persons who have
professional experience in matters relating to investments who fall
within Article 19(5) (“Investment professionals”) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
“Order”) or (iii) certain high value persons and entities who fall
within Article 49(2)(a) to (d) (“High net worth companies,
unincorporated associations etc.”) of the Order; or (iv) any other
person to whom it may lawfully be communicated (all such persons in
(i) to (iv) together being referred to as “relevant persons”). The
ADSs or ordinary shares offered in the Global Offering are only
available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such ADSs or ordinary shares will be
engaged in only with relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of
its contents. This communication does not contain an offer or
constitute any part of an offer to the public within the meaning of
ss. 85 and 102B of FSMA or otherwise.
For further information, please contact
:
Verona Pharma plc |
Tel:
+44 (0)20 3283 4200 |
Jan-Anders Karlsson, Chief Executive Officer |
info@veronapharma.com |
|
|
FTI
Consulting (UK Media and Investor enquiries) |
Tel:
+44 (0)20 3727 1000 |
Simon
Conway / Stephanie Cuthbert / Natalie Garland-Collins |
veronapharma@fticonsulting.com |
|
|
ICR,
Inc. (US Media and Investor enquiries) |
|
James
Heins |
Tel:
+1 203-682-8251James.Heins@icrinc.com |
Stephanie Carrington |
Tel.
+1 646-277-1282Stephanie.Carrington@icrinc.com |
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