BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Horizon Pharma, Inc. (HZNP) Announces Exercise in Full of Overallotment Option and Completion of Public Offering of Common Stock and Warrants to Purchase Common Stock


9/26/2012 8:24:07 AM

DEERFIELD, IL--(Marketwire - September 25, 2012) - Horizon Pharma, Inc. (NASDAQ: HZNP) announced today the completion of an underwritten public offering of 24,638,750 units, including 3,213,750 units sold pursuant to the full exercise of an overallotment option previously granted to the underwriters (with each unit consisting of one share of its common stock and a warrant to purchase 0.5 of a share of its common stock). All of the securities were offered by Horizon at a combined price to the public of $3.50 per unit. The net proceeds to Horizon from this offering were approximately $81 million. The warrants are exercisable at $4.57 per share and expire five years from the date of issuance. The shares of common stock and warrants are immediately separable and were issued separately. Horizon expects to use the net proceeds from the offering primarily to fund ongoing commercialization activities for DUEXIS® and RAYOS®, as well as for general corporate purposes.

Cowen and Company, LLC, JMP Securities LLC and Stifel Nicolaus Weisel acted as joint book-running managers for the offering.

The securities described above were offered by Horizon pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). A final 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 and the accompanying prospectus relating to this offering may be obtained from Cowen and Company, LLC (c/o Broadridge Financial Services) at 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-2806, from JMP Securities LLC at 600 Montgomery Street, 10th Floor, San Francisco, California 94111, Attn: Prospectus Department, by emailing ccornell@jmpsecurities.com, or by calling (415) 835-8985, or from Stifel, Nicolaus & Company, Incorporated at One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by calling (415) 364-2720.

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.

About Horizon Pharma
Horizon Pharma, Inc. (NASDAQ: HZNP) is a biopharmaceutical company that is developing and commercializing innovative medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases. For more information, please visit www.horizonpharma.com.

Forward Looking Statements
This press release contains "forward-looking statements" that involve risks and uncertainties, including those relating to Horizon's expectations with respect to its anticipated use of proceeds from the offering. These forward-looking statements are based upon Horizon's current expectations. Actual results may differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks regarding Horizon's ability to commercialize products successfully, changes in Horizon's strategy as to when to launch RAYOS in the United States and on which approved indications it will focus its initial commercial efforts, whether physicians will prescribe and patients will use Horizon's products, competition in the market for Horizon's products, unexpected future requirements for cash resources, the possibility of early maturity of Horizon's senior secured debt facility or requirements to prepay all or part of the outstanding balance of the debt facility, Horizon's ability to comply with the covenants and obligations under the debt facility and other risks detailed in the "Risk Factors" section of the final prospectus supplement related to the offering and Horizon's reports with the SEC, including in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2012. Horizon undertakes no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.


Contacts
Robert J. De Vaere
Executive Vice President and Chief Financial Officer
Email Contact

Media
Geoff Curtis
DJE Science
312-550-8138
Email Contact

Investors
Kathy Galante
Burns McClellan, Inc.
212-213-0006
Email Contact



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES