OptimizeRx Announces Pricing of Public Offering of Common Stock
OptimizeRx Corporation (Nasdaq: OPRX) has priced an underwritten public offering of 1,325,000 shares at $49.50 each, aiming for gross proceeds of approximately $65.6 million. Underwriters hold a 30-day option for an additional 198,750 shares. Closing is expected around February 11, 2021. Proceeds will be used for general corporate purposes, potentially including future acquisitions, although no immediate agreements are in place. The offering is conducted under an effective shelf registration statement with the SEC, ensuring compliance and transparency for investors.
- Gross proceeds of approximately $65.6 million.
- Funds may support future acquisitions, indicating potential growth.
- Potential dilution of shares if additional shares are purchased by underwriters.
ROCHESTER, Mich., Feb. 09, 2021 (GLOBE NEWSWIRE) -- OptimizeRx Corporation (Nasdaq: OPRX) (“OptimizeRx”), a leading provider of digital health solutions for life science companies, physicians and patients, today announced the pricing of the previously announced underwritten public offering of 1,325,000 shares of its common stock at a price to the public of
The net proceeds of the offering will be used for general corporate purposes, which may include future acquisitions. OptimizeRx does not have any immediate arrangements, commitments or understandings regarding any future acquisitions.
William Blair & Company, L.L.C. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Roth Capital Partners and Lake Street Capital Markets, LLC are acting as financial advisors for the offering.
An automatic shelf registration statement on Form S-3 (File No. 333-252844) relating to the shares was filed with the Securities and Exchange Commission (the “SEC”) on February 8, 2021 and is effective. The offering is being made only by means of a prospectus supplement and the accompanying prospectus. Before you invest, you should read the prospectus in the registration statement, the preliminary prospectus supplement, and other documents OptimizeRx has filed with the SEC for more complete information about OptimizeRx and the offering. Copies of the registration statement, the preliminary prospectus supplement and accompanying prospectus may be obtained on the SEC’s website at http://www.sec.gov or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606; Phone: (800) 621-0687; Email: prospectus@williamblair.com or RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at (877) 822-4089 or by email at equityprospectus@rbccm.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 registration or qualification under the securities laws of any such state or jurisdiction.
About OptimizeRx
OptimizeRx is a digital health company that provides communications solutions for life science companies, physicians and patients. Connecting over half of healthcare providers in the U.S. and millions of patients through a proprietary network, the OptimizeRx digital health platform helps patients afford and stay on medications. The platform unlocks new patient and physician touchpoints for life science companies along the patient journey, from point-of-care, to retail pharmacy, through mobile patient engagement.
Important Cautions Regarding Forward-Looking Statements
Certain information contained in this press release includes “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995, including statements related to the gross proceeds we expect to receive from the offering, the expected use of the net proceeds from the offering and the expected date of the closing of the offering. We may, in some cases use terms such as “expects,” “plans,” “will” or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current expectations that involve risks, potential changes in circumstances, assumptions and uncertainties. Any or all of the forward-looking statements may turn out to be wrong, or be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties as a result of various important factors, including the uncertainties related to market conditions and the completion of the public offering on the anticipated terms, or at all. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to our business in general, please refer to our preliminary prospectus supplement filed with the Securities and Exchange Commission (SEC) on February 8, 2021 under the heading “Risk Factors” and those documents incorporated by reference therein, which includes our Annual Report on Form 10-K filed with the SEC on March 26, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
OptimizeRx Contact
Doug Baker, CFO
Tel (248) 651-6568 x807
dbaker@optimizerx.com
Media Relations Contact
Maira Alejandra, Media Relations Manager
Tel (754) 245-7070
malejandra@optimizerx.com
Investor Relations Contact
Ron Both, CMA
Tel (949) 432-7557
oprx@cma.team
FAQ
What is the price of OptimizeRx's public offering?
How much capital will OptimizeRx raise from this offering?
When is the closing date for the OptimizeRx offering?
What will OptimizeRx do with the funds from the offering?
Is there an option for underwriters to purchase more shares?
