MALVERN, PA — PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for orphan diseases, announced the pricing of its underwritten public offering of 3,586,500 shares of its common stock at a price to the public of $12.00 per share. All of the common stock to be sold in the offering is being offered by PhaseBio.
In addition, PhaseBio has granted the underwriters a 30-day option to purchase up to an additional 537,975 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering are expected to be $43.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by PhaseBio. The offering is expected to close on April 16, 2019, subject to customary closing conditions.
Citigroup, Cowen and Stifel are acting as joint book-running managers for the offering. Needham & Company is acting as co-manager for the offering.
The offering is being made only by means of a prospectus. When available, the final prospectus related to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 1-631-274-2806, or fax: 1-631-254-7140.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
Source: PhaseBio Pharmaceuticals, Inc., One Great Valley Parkway, Suite 30, Malvern PA 19355
Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.