Date: 2016-10-03
Type of information: Private placement
Company: Array BioPharma (USA - CO)
Investors:
Amount: $132.25 million (€ 117.9 million)
Funding type: private placement
Planned used: Array intends to use the net proceeds to fund research and development efforts, including clinical trials for its proprietary candidates, build and scale commercial capability, and for general corporate purposes, including general working capital purposes.
Others: * On October 3, 2016, Array BioPharma announced the closing of its underwritten public offering of 21,160,000 shares of its common stock, which includes 2,760,000 shares of common stock issued upon the exercise in full of the option to purchase additional shares granted to the underwriters, at a public offering price of $6.25 per share. The total gross proceeds from the offering are $132.25 million, before underwriting discounts and commissions and offering expenses. * On September 27, 2016, Array BioPharma announced the pricing of an underwritten public offering of 18,400,000 shares of its common stock at a public offering price of $6.25 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and offering expenses, are expected to be approximately $115 million. The offering is expected to close on or about October 3, 2016, subject to customary closing conditions. Array also granted the underwriters a 30-day option to purchase up to 2,760,000 additional shares of common stock. All of the shares sold in the offering are being sold by Array. * On September 27, 2016, Array BioPharma announced that it has commenced an underwritten public offering of $100 million of shares of its common stock. Array BioPharma also intends to grant the underwriters a 30-day option to purchase up to an additional $15 million of shares of its common stock offered in the public offering. All of the shares in the offering are to be sold by Array BioPharma. J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the 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 as to the actual size or terms of the offering. The shares are being offered by Array BioPharma pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission (SEC).
Therapeutic area: Cancer - Oncology
