Date: 2015-09-14
Type of information: Private placement
Company: Seattle Genetics (USA - WA), a wholly owned subsidiary of Takeda Pharmaceutical (Japan)
Investors:
Amount: $552 million
Funding type: private placement
Planned used: Seattle Genetics anticipates using the net proceeds from the offering to fund the ongoing commercialization of Adcetris® (brentuximab vedotin) in the United States and Canada, to fund its research and development efforts designed to further expand the Adcetris® label and to advance its pipeline of product candidates, as well as for general corporate purposes, including working capital.
Others: * On September 14, 2015, Seattle Genetics announced that the underwriters of its previously announced public offering of common stock have exercised in full their over-allotment option to purchase an additional 1,756,097 shares of common stock. Including this option exercise, total gross proceeds from the offering of an aggregate of 13,463,415 shares at a price to the public of $41.00 per share will be approximately $552 million, before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on September 16, 2015, subject to customary closing conditions. * On September 10, 2015, Seattle Genetics announced the pricing of an underwritten public offering of 11,707,318 shares of its common stock at a price to the public of $41.00 per share. All of the shares are being sold by Seattle Genetics. The gross proceeds to Seattle Genetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $480 million. The offering was upsized by 20 percent from the originally anticipated gross offering amount of $400 million. The offering is expected to close on or about September 16, 2015, subject to customary closing conditions. In addition, Seattle Genetics has granted the underwriters of the offering a 30-day option to purchase up to an additional 1,756,097 shares of its common stock at the public offering price, less the underwriting discounts and commissions, solely to cover overallotments. * On September 9, 2015, Seattle Genetics announced that it has commenced an underwritten public offering of $400,000,000 of shares of its common stock. All of the shares are being offered by Seattle Genetics. In addition, Seattle Genetics expects to grant the underwriters of the offering a 30-day option to purchase up to an additional $60,000,000 of shares of its common stock at the public offering price, less the underwriting discounts and commissions. 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. J.P. Morgan Securities LLC is acting as lead book-running manager for the offering. Leerink Partners LLC is also acting as a book-running manager.
Therapeutic area:
