ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced the pricing of an underwritten public offering of 15,307,000 shares of its common stock, at a price to the public of $19.60 per share. The offering is expected to close on or about January 29, 2013, subject to customary closing conditions. In addition, ARIAD has granted the underwriters a 30-day option to purchase up to 2,296,050 additional shares of common stock to cover over-allotments, if any.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Jefferies & Company, Inc. are acting as joint book-running managers and underwriters for the offering. BMO Capital Markets, Leerink Swann LLC, RBC Capital Markets, LLC and UBS Investment Bank are acting as co-managers for the offering.
This funding is expected to enable ARIAD to support sales, marketing, manufacturing and distribution of Iclusig™ (ponatinib). ARIAD anticipates that this funding will also enable it to continue ongoing global development of its other product candidates, including clinical trials, product and process development activities, manufacturing and other activities; expand its operations in Europe and other territories to prepare for future commercial launch of products, if approved; continue discovery research efforts to add to its pipeline of product candidates; and be used for other general corporate purposes, including, but not limited to, repayment or refinancing of existing indebtedness or other corporate borrowings, capital expenditures and possible acquisitions.
A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the “SEC”) and is effective. A preliminary prospectus supplement relating to the offering has been filed with the SEC, and a final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus, when available, may be obtained from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204); the offices of Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number 631-274-2806); or the offices of Jefferies & Company, Inc., Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY, 10022, or by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com.This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.