On March 10, 2021 Savara Inc. (Nasdaq: SVRA), an orphan lung disease company, reported that it intends to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering (Press release, Savara, MAR 10, 2021, View Source [SID1234576519]). In addition, Savara is offering to certain investors the right to purchase pre-funded warrants in lieu of common stock. 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. Savara intends to use the net proceeds from this offering for working capital to support operations, including but not limited to clinical development, manufacturing, regulatory, and commercial activities related to its molgramostim nebulizer solution (molgramostim, formerly referred to as Molgradex) in autoimmune pulmonary alveolar proteinosis (aPAP) program and the IMPALA 2 trial, and general and administrative expenses. In addition, Savara intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock and pre-funded warrants offered in the public offering.
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Jefferies LLC and Piper Sandler are acting as joint book-running managers and representatives of the underwriters for the offering. Oppenheimer & Co. Inc. is acting as the lead manager and H.C. Wainwright & Co., LLC is acting as co-manager for the offering.
Savara intends to offer and sell these securities pursuant to its existing shelf registration statement (File No. 333-225994) filed with the Securities and Exchange Commission (SEC) on June 29, 2018 and declared effective on July 13, 2018. A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC and forms a part of the effective registration statement. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may 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) 547-6340, or by email at [email protected] or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at [email protected]. An electronic copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering will be available on the SEC website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of offers to buy any securities of Savara, and shall not constitute an offer, solicitation, or sale of any security 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.