Dyax Corp. (NASDAQ: DYAX) today announced the pricing of an underwritten public offering of 9,230,770 shares of its common stock, offered at a price to the public of $6.50 per share. The gross proceeds to Dyax from this offering are expected to be $60 million, before deducting the underwriting discount and other estimated offering expenses payable by Dyax. The offering is expected to close on or about October 15, 2013, subject to customary closing conditions.
Jefferies LLC is acting as the sole book-running manager with Cowen and Company, LLC, Leerink Swann LLC and Needham & Company, LLC acting as the co-managers for the offering. Dyax has granted the underwriters a 30-day option to purchase up to an aggregate of 1,384,615 additional shares of common stock.
Dyax intends to use the net proceeds from this offering to fund research and development activities, including the development of DX-2930, a therapeutic candidate for the prophylactic treatment of hereditary angioedema (HAE), and for general corporate purposes.
A registration statement relating to the shares of Dyax common stock being offered has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and related prospectus, when available, may be obtained from Jefferies LLC, Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022, 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, 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 jurisdiction.