SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Jul. 23, 2015--
Exelixis, Inc. (Nasdaq:EXEL) today announced the pricing of its
underwritten public offering of 25,000,000 shares of newly issued common
stock at a price to the public of $5.40 per share. The gross proceeds to
Exelixis from this offering are expected to be approximately $135
million, before deducting the underwriting discount and other estimated
offering expenses payable by Exelixis. Exelixis also granted the
underwriters a 30-day option to purchase up to an additional 3,750,000
shares of its common stock. All of the shares are being sold by Exelixis.
Exelixis currently expects to use the net proceeds from the offerings
for general corporate purposes, including for clinical trials, build-out
of commercial infrastructure, research and development, capital
expenditures and working capital.
Cowen and Company, William Blair and Stifel are acting as bookrunners
for the offering. The offering is being conducted by means of a
prospectus supplement filed as part of a shelf registration statement
previously filed with the Securities and Exchange Commission (SEC) on
Form S-3.
Exelixis expects to close the offering on or about July 29, 2015,
subject to customary closing conditions.
This announcement does not constitute an offer to sell or a 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 registration or qualification under the
securities laws of any such state or jurisdiction. This press release is
being issued pursuant to and in accordance with Rule 134 under the
Securities Act of 1933, as amended. Any offer, if at all, will be made
only by means of a prospectus, including a prospectus supplement,
forming a part of the effective registration statement. Copies of the
preliminary prospectus supplement and base prospectus relating to the
offering, and the final prospectus supplement when available, may be
obtained from Cowen and Company, LLC (c/o Broadridge Financial
Services., 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus
Department, Phone: 631-274-2806, Fax: 631-254-7140); William Blair &
Company, L.L.C., Attention Prospectus Department, 222 West Adams Street,
Chicago, Illinois 60606, Phone: 800-621-0687, Email: prospectus@williamblair.com;
and Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One
Montgomery Street, Suite 3700, San Francisco, California 94104, Phone:
415-364-2720, Email: syndprospectus@stifel.com.
Exelixis has filed a preliminary prospectus supplement, and will file a
final prospectus supplement, relating to the offering with the SEC,
which are or will be available along with the prospectus filed with the
SEC in connection with the shelf registration statement, on the SEC’s
website at http://www.sec.gov.
About Exelixis
Exelixis, Inc. is a biopharmaceutical company committed to developing
small molecule therapies for the treatment of cancer.
Forward-Looking Statements
This announcement contains forward-looking statements, including
statements relating to Exelixis' expectations regarding the completion
of the proposed public offering and the amount and use of the
anticipated net proceeds therefrom. These statements are subject to
significant risks and uncertainties and actual results could differ
materially from those projected. Exelixis cautions investors not to
place undue reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to satisfaction of customary closing
conditions related to the public offering. There can be no assurance
that Exelixis will be able to complete the public offering on the
anticipated terms, or at all. Risks and uncertainties relating to
Exelixis and its business, as well as this offering, can be found in the
“Risk Factors” section of the preliminary prospectus supplement related
to the offering filed with the SEC on July 21, 2015. Exelixis undertakes
no duty or obligation to update any forward-looking statements contained
in this release as a result of new information, future events or changes
in Exelixis' expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150723006669/en/
Source: Exelixis, Inc.
Exelixis, Inc.
Chris Senner, 650-837-7240
Chief
Financial Officer
csenner@exelixis.com
or
Exelixis,
Inc.
Susan Hubbard, 650-837-8194
Investor
Relations & Corporate Communications
shubbard@exelixis.com