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Fundraisings and IPOs

Date: 2018-01-22

Type of information: Private placement

Company: Avexis (USA - IL)

Investors:

Amount: $431.9 million

Funding type: private placement

Planned used:

  • AveXis intends to use its existing cash and cash equivalents and the net proceeds of the offering to fund its research, manufacturing and clinical activities to support its programs in SMA, Rett syndrome and ALS, to fund its pre-commercial activities, including medical affairs, development of commercial initiatives for the potential launch of AVXS-101 and licensing activities, and for general corporate purposes and working capital.

Others:

  • • On January 22, 2018, AveXis announced the closing of its previously announced underwritten public offering of 4,509,840 shares of its common stock at a price to the public of $102.00 per share before underwriting discounts and commissions, including 588,240 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. The net proceeds to AveXis from the offering, after deducting the underwriting discounts and commissions and other offering expenses payable by AveXis, are estimated to be approximately $431.9 million.
  • • On January 16, 2018, AveXis announced the pricing of an underwritten public offering of 3,921,600 shares of its common stock at a public offering price of $102.00 per share, before underwriting discounts and commissions. The net proceeds to AveXis from the offering, after deducting the underwriting discounts and commissions and estimated offering expenses payable by AveXis, are expected to be approximately $375.5 million. The offering is expected to close on or about January 19, 2018, subject to customary closing conditions. In addition, AveXis has granted the underwriters a 30-day option to purchase up to an additional 588,240 shares of common stock at the public offering price, less the underwriting discounts and commissions.
  • • On January 16, 2018, AveXis announced that it intends to offer and sell, subject to market conditions, up to $400 million of shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
  • Goldman Sachs & Co. LLC, Jefferies LLC and BofA Merrill Lynch are acting as joint book-running managers. BMO Capital Markets Corp. is acting as lead manager. AveXis intends to grant the underwriters a 30-day option to purchase up to an additional $60 million of shares of common stock at the public offering price, less the underwriting discounts and commissions.

Therapeutic area: Rare diseases - Genetic diseases - Neuromuscular diseases

Is general: Yes