AlloVir Announces Pricing of Public Offering of Common Stock

Rhea-AI Summary

AlloVir, Inc. announces the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a price of $3.75 per share, expected to raise $75.0 million in gross proceeds.

Positive

• AlloVir expects to raise $75.0 million in gross proceeds from the public offering of its common stock.

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• None.

WALTHAM, Mass.--(BUSINESS WIRE)-- AlloVir, Inc. (Nasdaq: ALVR), a late clinical-stage cell therapy company, today announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $3.75 per share. The gross proceeds to AlloVir from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be $75.0 million. All shares in the offering are to be sold by AlloVir. In addition, AlloVir has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about June 26, 2023, subject to customary closing conditions.

J.P. Morgan, Morgan Stanley and BofA Securities are acting as joint book-running managers for the proposed offering.

The shares are being offered by AlloVir pursuant to an effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov.

When available, copies of the final prospectus supplement relating to the offering may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-866-803-9204 or email at prospectus-eq_fi@jpmchase.com; from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com; or from BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon, Charlotte, North Carolina 28255-0001, or by email at dg.prospectus_requests@bofa.com.

This press release shall not constitute an offer to sell or a 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 the registration or qualification under the securities laws of any such state or jurisdiction.

About AlloVir
AlloVir is a leading late clinical-stage cell therapy company with a focus on restoring natural immunity against life-threatening viral diseases in pediatric and adult patients with weakened immune systems. The company’s innovative and proprietary technology platforms leverage off-the-shelf, allogeneic, single- and multi-virus-specific T cells for patients with T cell deficiencies who are at risk from the life-threatening consequences of viral diseases. AlloVir’s technology and manufacturing process enable the potential for the treatment and prevention of a spectrum of devastating viruses with each single allogeneic cell therapy. The company is advancing multiple mid- and late-stage clinical trials across its product portfolio.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230621386052/en/

Media and Investors:

ir@allovir.com

Source: AlloVir, Inc.

FAQ

What is the offering price of AlloVir's common stock?

The offering price of AlloVir's common stock is $3.75 per share.

How much is AlloVir expecting to raise in gross proceeds from the offering?

AlloVir is expecting to raise $75.0 million in gross proceeds from the offering.

Who are the joint book-running managers for the proposed offering?

The joint book-running managers for the proposed offering are J.P. Morgan, Morgan Stanley, and BofA Securities.

Where can I find the preliminary prospectus supplement for the offering?

The preliminary prospectus supplement for the offering can be found on the SEC's website at www.sec.gov.

How can I obtain copies of the final prospectus supplement for the offering?

Copies of the final prospectus supplement for the offering can be obtained from J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, or BofA Securities.

Is this press release an offer to sell or a solicitation to buy the securities?

No, this press release does not constitute an offer to sell or a solicitation to buy the securities.