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AveXis Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Jan. 22, 2018 04:34PM PST
Genetics Investing
AveXis (NASDAQ:AVXS) today 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. As quoted in …
AveXis (NASDAQ:AVXS) today 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.
As quoted in the press release:
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.
Goldman Sachs & Co. LLC, Jefferies LLC and BofA Merrill Lynch acted as joint book-running managers. BMO Capital Markets Corp. acted as lead manager.