NOVATO, Calif., April 2, 2015 (GLOBE NEWSWIRE) -- Raptor Pharmaceutical Corp. (Nasdaq:RPTP), a biopharmaceutical company focused on developing and commercializing transformative treatments for people affected by rare and debilitating diseases, today announced that it has priced an underwritten public offering of 9,500,000 shares of its common stock at a price to the public of $9.00 per share. In addition, Raptor has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,425,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. Gross proceeds before underwriting discounts and commissions and estimated expenses of the offering payable by the company are expected to be approximately $85.5 million, or approximately $98.3 million if the underwriters exercise their option to purchase the additional shares in full. The offering is expected to close on April 8, 2015, subject to customary closing conditions. All of the shares are being offered by the company.
Citigroup, Leerink Partners and Cowen and Company are acting as lead joint book-running managers for the offering. JMP Securities is acting as lead manager and Janney Montgomery Scott is acting as a co-manager for the offering.
A registration statement relating to these securities was filed with the Securities and Exchange Commission (SEC) and became automatically effective on March 30, 2015. This offering is being made solely by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. When available, copies of the final prospectus supplement and accompanying prospectus related to the offering may also be obtained from Citigroup Global Markets Inc., Attention: c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York, 11717, or by phone at (800) 831-9146, or by email at prospectus@citi.com; or from the offices of Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, or by phone at (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, nor will 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 such state or other jurisdiction.
About Raptor Pharmaceutical
Raptor Pharmaceutical Corp. is a global biopharmaceutical company focused on developing and commercializing transformative treatments for people affected by rare and debilitating diseases. The company is engaged in multiple therapeutic areas such as nephropathic cystinosis, Huntington’s disease (HD), nonalcoholic steatohepatitis (NASH), and Leigh syndrome and other mitochondrial diseases. With an approved product in the U.S. and EU, Raptor also holds several orphan drug designations, including exclusivity for nephropathic cystinosis in the U.S. and EU, and orphan drug designation for HD in the U.S. and EU.
Forward-Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding the anticipated public offering, are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause our actual results to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the completion of the public offering on the anticipated terms and the satisfaction of customary closing conditions related to the public offering, among others. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see Raptor’s Registration Statement on Form S-3 filed with the SEC on March 30, 2015, as may be amended from time to time, together with its preliminary prospectus supplement relating to the proposed offering filed with the SEC, and the documents incorporated by reference therein, including its Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 2, 2015, and its subsequent periodic reports filed with the SEC, including under the caption “Risk Factors”. Raptor undertakes no obligation to update or revise any forward-looking statements.
CONTACT: COMPANY CONTACT: Kimberly Lee, D.O. Vice President, Corporate Strategy and Communications Raptor Pharmaceutical Corp. (415) 408-6351 INVESTOR CONTACT: Westwicke Partners, LLC Robert H. Uhl Managing Director (858) 356-5932 robert.uhl@westwicke.com MEDIA CONTACT: Cammy Duong Canale Communications (619) 849-5382 cammy@canalecomm.com
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