Exact Sciences Announces Upsizing and Pricing of 0.3750% Convertible Senior Notes Due 2028

On February 24, 2020 Exact Sciences Corporation (NASDAQ: EXAS) (the "Company") reported that it has priced its underwritten public offering of 0.3750% convertible senior notes due 2028 (the "Notes") and upsized the offering from $850 million to $1.0 billion aggregate principal amount (Press release, Exact Sciences, FEB 24, 2020, View Source;301010365.html [SID1234554684]). The Company has granted the underwriter a 30-day option to purchase up to an additional $150.0 million aggregate principal amount of the Notes solely to cover over-allotments, if any.

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The Notes will be senior unsecured obligations of the Company and will bear interest at a rate of 0.3750% per annum. Interest on the Notes will be payable semi-annually in arrears on March 1 and September 1 of each year, beginning September 1, 2020. The Notes will be convertible into cash, shares of the Company’s common stock (and, if applicable, cash in lieu of any fractional share), or a combination thereof, at the Company’s election. The initial conversion rate will be 8.2076 shares of the Company’s common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $121.84 per share. The Notes will mature on March 1, 2028, unless earlier converted or repurchased in accordance with their terms prior to such date, and may not be redeemed by the Company prior to maturity. Prior to September 1, 2027, the Notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, until the close of business on the second scheduled trading day immediately preceding the maturity date.

The offering is expected to close on February 27, 2020, subject to customary closing conditions. The Company intends to use the net proceeds of this offering for general corporate purposes, which may include the repayment of debt, working capital and possible acquisitions. In addition, the Company expects to use approximately $150 million of the net proceeds to repurchase a portion of its existing 1% convertible senior notes due 2025.

BofA Securities is acting as the sole book-running manager for the Notes offering.

An automatically effective shelf registration statement relating to the Notes was filed with the SEC on June 6, 2017. A copy of the prospectus supplement and prospectus relating to the Notes offering may be obtained free of charge on the SEC’s website at View Source or by sending a request to BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department (or by e-mail at [email protected]).

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. The offering of the Notes will be made only by means of the prospectus and related prospectus supplement.

Bavarian Nordic to Present at Cowen and Company’s 40th Annual Health Care Conference

On February 24, 2020 Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) reported that Paul Chaplin, President & CEO will provide a corporate presentation at the Cowen and Company’s 40th Annual Health Care Conference in Boston on Monday, March 2, 2020 at 2:50 pm ET (8:50 pm CET) (Press release, Bavarian Nordic, FEB 24, 2020, View Source [SID1234554679]).

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A live and archived webcast of the presentation will be available at http://bit.ly/2v1duoY.

Contacts
Europe: Rolf Sass Sørensen, Vice President Investor Relations & Communications. Phone +45 61 77 47 43
U.S.: Graham Morrell, Paddock Circle Advisors (US), Tel: +1 781 686 9600

Akebia Therapeutics to Report Fourth Quarter and Full-Year 2019 Financial Results and Discuss Recent Business Highlights

On February 24, 2020 Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company focused on the development and commercialization of therapeutics for people with kidney disease, reported plans to release its fourth quarter and full-year 2019 financial results, on Tuesday, March 10, 2020 before the opening of the financial markets (Press release, Akebia, FEB 24, 2020, View Source [SID1234554677]).

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Akebia will host a conference call at 9:00 a.m. Eastern Time on Tuesday, March 10th, to discuss its fourth quarter and full-year 2019 financial results and recent business highlights. To listen to the conference call, please dial (877) 458-0977 (domestic) or (484) 653-6724 (international) using conference ID number 6572299. The call will also be webcast LIVE and can be accessed via the Investors section of the Company’s website at View Source

A replay of the conference call will be available two hours after the completion of the call through March 16, 2020. To access the replay, dial (855) 859-2056 (domestic) or (404) 537-3406 (international) and reference conference ID number 6572299. An online archive of the conference call can be accessed via the Investors section of the Company’s website at View Source

Fortress Biotech Announces Closing of Series A Preferred Stock Offering and Full Exercise of Over-Allotment Option

On February 24, 2020 Fortress Biotech, Inc. (Common Stock: Nasdaq: FBIO) (Preferred Stock: Nasdaq: FBIOP) ("Fortress"), an innovative biopharmaceutical company focused on acquiring, developing and commercializing high-potential marketed and development-stage drugs and drug candidates, reported that the underwriters of its recent public offering of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock have exercised in full their option and purchased an additional 93,750 shares at the public offering price of $20.00 per share (Press release, Fortress Biotech, FEB 24, 2020, View Source [SID1234554676]). The exercise of the underwriters’ option closed on February 20, 2020. After giving effect to the sale of the option shares, a total of 718,750 shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock were offered and sold in the offering.

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On February 11, 2020, Fortress priced its public offering of 625,000 shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock at $20.00 per share. Following the closing of the exercise of the underwriters’ option, Fortress has received aggregate gross proceeds, before deducting underwriting discounts and commissions and offering expenses, of approximately $14.4 million.

The Benchmark Company and ThinkEquity, a division of Fordham Financial Management, Inc. acted as joint bookrunning managers for the offering.

Fortress intends to use the net proceeds from the public offering for its operations, including, but not limited to, general corporate purposes, which may include research and development expenditures, clinical trial expenditures, manufacture and supply of product, and working capital.

The offering was made by Fortress pursuant to an effective shelf registration statement on Form S-3 (File 333-226089) previously filed with the Securities Exchange Commission ("SEC"). The offering was made only by means of a written prospectus and related prospectus supplement that form a part of the registration statement. A copy of the final prospectus supplement and accompanying prospectus related to this offering may be obtained from any of the underwriters, including the offices of The Benchmark Company, Attn: Prospectus Department, 150 E 58th Street, 17th floor, New York, NY 10155, 212-312-6700, Email: [email protected], and the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 or by email at [email protected]. You may also obtain these documents for free by visiting the SEC’s website at www.sec.gov.

Precigen to Announce Fourth Quarter and Full Year 2019 Financial Results on March 2nd

On February 24, 2020 Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, reported it will release fourth quarter and full year 2019 financial results after the market closes on Monday, March 2nd, 2020 (Press release, Precigen, FEB 24, 2020, View Source [SID1234554675]). The Company will host a conference call that day at 5:30 pm ET to discuss the results and provide a general business update.

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The conference call may be accessed by dialing 1-888-317-6003 (Domestic US), 1-866-284-3684 (Canada), and 1‑412-317-6061 (International) and providing the number 4230814 to join the Precigen Conference Call. Participants may also access the live webcast through Precigen’s website in the Events section at View Source

As announced on February 3, 2020, the Company has changed its name to Precigen, Inc. from Intrexon Corporation and its Nasdaq stock symbol to PGEN from XON to reflect the focus on healthcare and advancing a broad portfolio of healthcare assets.