Ultragenyx Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Ultragenyx Pharmaceutical (NASDAQ:RARE) has successfully completed an underwritten public offering of 5,111,110 shares of common stock at $90.00 per share, raising approximately $435.4 million in net proceeds after underwriting costs. The offering included the full exercise of an option for an additional 666,666 shares by underwriters. J.P. Morgan, Goldman Sachs, BofA Securities, and Cowen served as joint book-running managers for this offering. Ultragenyx focuses on developing novel therapies for rare genetic diseases, reinforcing its commitment to urgent drug development.
- Raised approximately $435.4 million in net proceeds.
- Increased financial resources for development of therapies for rare diseases.
- Full exercise of the underwriters' option indicates strong market demand.
- Potential dilution of existing shares due to the new public offering.
NOVATO, Calif., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), a biopharmaceutical company focused on the development and commercialization of novel products for serious rare and ultra-rare genetic diseases, today announced the closing of its previously announced underwritten public offering of 5,111,110 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 666,666 shares, at a price to the public of
J.P. Morgan, Goldman Sachs & Co. LLC, BofA Securities and Cowen acted as joint book-running managers for the offering.
The shares of common stock described above were offered by Ultragenyx Pharmaceutical Inc. pursuant to a registration statement previously filed with the Securities and Exchange Commission (the “SEC”) that became automatically effective on February 21, 2018. A final prospectus supplement and accompanying prospectus were filed with the SEC and available for free on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at prospectus- eq_fi@jpmchase.com; Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; and Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, United States, Attn.: Prospectus Department or by telephone 1-631-274-2806.
About Ultragenyx
Ultragenyx is a biopharmaceutical company committed to bringing to patients novel products for the treatment of serious rare and ultra-rare genetic diseases. The Company has built a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are typically no approved therapies treating the underlying disease.
The Company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx's strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.
Forward-Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding the anticipated public offering, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, such as the regulatory approval process, the timing of regulatory filings, and other matters that could affect sufficiency of existing cash, cash equivalents and short-term investments to fund operations and the availability or commercial potential of our drug candidates. Ultragenyx undertakes no obligation to update or revise any forward-looking statements. 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 the business of Ultragenyx in general, see Ultragenyx's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on February 21, 2018, as may be amended from time to time, together with its final prospectus supplement and accompanying prospectus filed with the Securities and Exchange Commission on October 29, 2020, and the documents incorporated by reference therein, including its Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 14, 2020, and its subsequent periodic reports filed with the Securities and Exchange Commission.
Contact Ultragenyx Pharmaceutical Inc.
Investors & Media
Joshua Higa
415-475-6370
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