On August 14, 2020 Equillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders, reported that it intends to offer and sell shares of its common stock in an underwritten registered public offering (Press release, Equillium, AUG 14, 2020, View Source [SID1234563659]). All of the shares in the offering are to be sold by Equillium. Equillium also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
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Equillium expects to use the net proceeds from this offering to primarily fund the continued development of current and any future product candidates in its pipeline, potential acquisitions of new products, and for working capital, capital expenditures and general corporate purposes.
Jefferies, SVB Leerink and Stifel are acting as the joint book-running managers for this offering. H.C. Wainwright & Co. is acting as financial advisor to Equillium for this offering.
A registration statement on Form S-3 has been filed with the Securities and Exchange Commission (SEC) and was declared effective on November 25, 2019. The offering of these securities will be made only by means of a preliminary prospectus supplement and accompanying prospectus forming part of the effective registration statement relating to the shares. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340 or by email at [email protected]; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 800-808-7525, ext. 6218 or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, A 94104, by telephone at 415-364-2720 or by email at [email protected].
Before investing in this offering, you should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that Equillium has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about Equillium and such offering.
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 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.