Xeris Pharmaceuticals Announces Full Exercise of Underwriters’ Options to Purchase Additional Shares and Additional Notes
Xeris Pharmaceuticals, Inc. (Nasdaq: XERS), a specialty pharmaceutical company leveraging its novel technology platforms to develop and commercialize ready-to-use injectable and infusible drug formulations, today announced that, in connection with its previously announced concurrent underwritten public offerings of common stock (the “Shares Offering”) and 5.00% convertible senior notes due 2025 (the “Notes Offering,” together with the Shares Offering, the “Offerings”), the underwriters have fully exercised their option to purchase an additional 1,110,000 shares of common stock from the Company. Additionally, the underwriters have previously fully exercised their option to purchase an additional $11.25 million aggregate principal amount of 5.00% convertible senior notes (the “Notes”) from the Company. The exercise of these options increases the size of the Shares Offering to an aggregate of 8,510,000 shares at a price to the public of $2.72 per share and increases the size of the Notes Offering to $86.25 million aggregate principal amount of Notes. The gross proceeds of the Offerings were approximately $109.4 million, before deducting underwriting discounts and commissions and other offering expenses. The purchase of additional Notes closed on July 7, 2020 and the purchase of the additional shares of common stock closed on July 15, 2020.
Jefferies, SVB Leerink and Mizuho Securities acted as joint book running managers for the Shares Offering. Jefferies, SVB Leerink, RBC Capital Markets and Mizuho Securities acted as joint book running managers for the Notes Offering.
The Offerings were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-233061), including a base prospectus, filed by Xeris on August 6, 2019 and declared effective by the Securities and Exchange Commission, or SEC, on August 21, 2019. Final prospectus supplements and accompanying prospectuses related to the Offerings were filed with the SEC on June 29, 2020 and are available at the SEC’s website at www.sec.gov. Copies of the final prospectus supplements and accompanying prospectus can be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022; by phone at (877) 821-7388; or by email at Prospectus_Department@Jefferies.com; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by phone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink; Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020; by phone at (212) 205-7600; or by email at US-ECM@mizuhogroup.com; or, with respect to the documents related to the Notes Offering, RBC Capital Markets, LLC, Attention: Equity Syndicate Department, 200 Vesey Street, 8th Floor, New York, NY 10281; by phone at (877) 822-4089; or by email at firstname.lastname@example.org.
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