SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Feb. 10, 2012--
Exelixis, Inc. (Nasdaq:EXEL) today announced the pricing of its
underwritten public offering of 11,000,000 shares of newly issued common
stock at a price to the public of $5.50 per share. Exelixis also granted
the underwriters a 30-day option to purchase up to an additional
1,650,000 shares of its common stock in connection with the offering.
All of the shares in the offering are being sold by Exelixis. The shares
will be issued pursuant to 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 anticipates that its
aggregate net proceeds from the offering will be $56.5 million after
deducting the underwriting discount and estimated offering expenses
payable by Exelixis (assuming no exercise of the underwriters' option to
purchase additional shares of common stock).
Goldman, Sachs & Co. is acting as sole book running manager, and Cowen
and Company, LLC is acting as co-manager of the offering. Exelixis
expects to close the offering on or about February 15, 2012, 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 supplement and accompanying prospectus
forming a part of the effective registration statement. Copies of the
prospectus supplement and accompanying prospectus relating to the
offering may be obtained, when available, from Goldman, Sachs & Co. (200
West Street, New York, New York 10282, Attn: Prospectus Department,
Phone: 1-866-471-2526, Fax: 212-902-9316, Email: prospectus-ny@ny.email.gs.com)
or 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). Exelixis intends to file a
final prospectus supplement relating to the offering with the SEC, which
will be available along with the prospectus filed with the SEC in
connection with the shelf registration statement, on the SEC's website
at www.sec.gov.
About Exelixis
Exelixis, Inc. is a biotechnology company committed to developing small
molecule therapeutics 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 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 this offering can be found in
the "Risk Factors" section of the prospectus supplement related to the
proposed offering to be filed with the SEC. 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.
Source: Exelixis, Inc.
Exelixis, Inc.
Charles Butler, 650-837-7277
Vice President
Corporate
Communications & Investor Relations
cbutler@exelixis.com
