NEEDHAM, Mass., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Celldex Therapeutics, Inc. (Nasdaq:CLDX) today announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock, offered at a price to the public of $7.50 per share for an aggregate offering of $90,000,000 of common stock. The proceeds to Celldex from this offering are expected to be approximately $84,345,000, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Celldex. Celldex has granted the underwriters a 30-day option to purchase up to an aggregate of 1,800,000 additional shares of common stock. All of the shares in the offering are to be sold by Celldex. The offering is expected to close on or about February 11, 2013, subject to customary closing conditions.
Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint book-running managers of the offering. Oppenheimer & Co., Wedbush PacGrow Life Sciences, Brean Capital and Roth Capital Partners, LLC are acting as co-managers of the offering.
Celldex anticipates using the net proceeds from the offering to fund Celldex's clinical trials of its product candidates and for working capital and other general corporate purposes.A shelf registration statement on Form S-3 relating to the shares was filed with the Securities and Exchange Commission (SEC) and is effective. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov . Copies of the final prospectus supplement relating to these securities, when available, may be obtained from Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY, 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com or from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525 or by email at Syndicate@Leerink.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.
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