On May 30, 2019 XBiotech Inc. (NASDAQ: XBIT) reported that it has commenced an underwritten public offering of common shares, subject to market and other conditions (Press release, XBiotech, MAY 30, 2019, View Source [SID1234536697]). XBiotech intends to grant the underwriter in the offering a 30-day option to purchase additional common shares.
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Piper Jaffray is acting as the sole underwriter in the offering.
Net proceeds of the offering will be used primarily to advance bermekimab Phase 2 clinical trials in Hidradenitis Suppurativa and Atopic Dermatitis and for general corporate and working capital purposes. Completion of the offering is subject to customary closing conditions.
The common shares are being offered pursuant to an effective shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission. The prospectus supplement and accompanying prospectus relating to the offering contain important information relating to the XBiotech common shares. The prospectus supplement will be filed with the SEC and will be available on the SEC’s website at View Source, or may be obtained, when available, by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by email at [email protected], or by phone at (800) 747-3924. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.