On March 12, 2019 Epizyme, Inc. (Nasdaq: EPZM), a late-stage company developing novel epigenetic therapies, reported the closing of its two concurrent underwritten public offerings of 11,500,000 shares of its common stock and 350,000 shares of its non-voting Series A Convertible Preferred Stock, which includes the full exercise by the underwriters of their separate options in each of the respective offerings to purchase additional shares at the public offering price (Press release, Epizyme, MAR 12, 2019, View Source [SID1234534241]). The public offering price of each share of common stock was $11.50 and the public offering price of each share of Series A stock was $115.00.
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The aggregate gross proceeds to Epizyme from the offerings, before deducting underwriting discounts and offering expenses, are $172.50 million.
Epizyme anticipates using the net proceeds from these offerings, together with its existing cash, cash equivalents and marketable securities, to fund global development and commercialization costs of tazemetostat outside of Japan, including the costs of Epizyme’s ongoing and planned clinical trials of tazemetostat, the costs of regulatory activities related to tazemetostat, including associated milestone payments, and the costs associated with the commercial launch of tazemetostat for epithelioid sarcoma and follicular lymphoma, if approved; expansion of tazemetostat into additional treatment lines, combinations and indications; to fund research and development costs to identify and develop other product candidates, including EZM8266 for sickle cell disease; and for working capital and other general corporate purposes.
Jefferies, Citigroup and Cowen acted as joint book-running managers for the proposed offerings. Wedbush PacGrow acted as lead manager and H.C. Wainwright & Co. acted as co-manager.
A shelf registration statement relating to the shares of common stock and the Series A stock offered in the public offerings was filed with the Securities and Exchange Commission ("SEC") on April 5, 2018 and was automatically effective upon filing. The offerings of common stock and Series A stock were made only by means of written prospectuses and prospectus supplements that each form a part of the registration statement. Prospectus supplements relating to and describing the terms of each offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplements and the accompanying prospectuses relating to the securities being offered may also be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at [email protected]; Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, or by phone at 800-831-9146; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone at (631) 274-2806 or by fax at (631) 254-7140.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities being offered 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.