Amarin Announces Completion Of Offering Of American Depositary Shares

BEDMINSTER, N.J. and DUBLIN, Ireland, July 12, 2013 (GLOBE NEWSWIRE) -- Amarin Corporation plc (Nasdaq:AMRN) ("Amarin" or the "Company") today announced that it had completed its previously announced underwritten public offering of 21,700,000 American Depositary Shares ("ADSs"). The underwriters purchased the ADSs from Amarin at a price of $5.60 per ADS, resulting in net proceeds to Amarin of approximately $121.1 million, after deducting estimated offering expenses payable by Amarin. Amarin has also granted the underwriters a 30-day option to purchase an additional 3,255,000 ADSs. Amarin intends to use the net proceeds from this offering primarily to continue the commercial launch of Vascepa┬« (icosapent ethyl) capsules in the MARINE indication, prepare for and commercially launch Vascepa in the ANCHOR indication, if approved, advance the Company's REDUCE-IT cardiovascular outcomes trial, and for general corporate and working capital purposes.

Citigroup Global Markets Inc. and Jefferies LLC acted as joint book-running managers and underwriters in this offering.

A registration statement relating to the ADSs described above was previously filed with and has become effective by rule of the Securities and Exchange Commission (the "SEC"). A final prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and related prospectus may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: batprospectusdept@citi.com, telephone 1-800-831-9146; and Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, New York, 10022, telephone: 877-547-6340, email: 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.

If you liked this article you might like

Biotech Premarket Movers: Cempra, Novavax, Ionis

Amarin (AMRN) Stock Drops After Pricing Public Offering

Tetraphase Executive Profits Hours Before Stock Plummets

5 Stocks Ready for Breakouts -- Must-See Charts

3 Stocks Under $10 Making Big Moves