AVEO Oncology (Formerly known as AVEO Pharmaceuticals, Inc.) Announces Exercise of Over-Allotment Option for Recent Public Offering

CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) today announced that the underwriters of its recent public offering of common stock have exercised their option to purchase an additional 1,000,050 shares, the full amount of the option granted to the underwriters, at the public offering price of $7.50 per share. All of the shares are being sold by AVEO. As a result, the company expects to issue a total of 7,667,050 shares upon the closing of the offering and to receive aggregate net proceeds, after underwriting discounts and commissions and other estimated offering expenses, of approximately $53.8 million. The offering is expected to close on or about January 23, 2013, subject to the satisfaction of customary closing conditions.