Xenon Pharmaceuticals Announces Closing of $115 Million Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Xenon Pharmaceuticals Inc. (Nasdaq:XENE) has successfully closed an underwritten public offering of 5,135,135 common shares, including an additional 810,810 shares from the underwriters' exercised option. The shares were priced at $18.50 each, while pre-funded warrants to purchase 1,081,081 common shares were offered at $18.4999. The total gross proceeds from the offering are approximately $115.0 million, before deductions. Jefferies, Stifel, and William Blair acted as joint book-running managers for the offering.
- Gross proceeds of approximately $115.0 million will support ongoing business operations and clinical trials.
- Successful execution of public offering reflects investor confidence in the company.
- Potential dilution of existing shareholders due to new common shares being issued.
BURNABY, British Columbia, March 12, 2021 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq:XENE), a clinical stage biopharmaceutical company, today announced the closing of its previously announced underwritten public offering of 5,135,135 common shares, which includes 810,810 shares sold upon the full exercise of the underwriters’ option to purchase additional shares, and pre-funded warrants to purchase 1,081,081 common shares. The common shares were offered at a public offering price of
Jefferies, Stifel, and William Blair acted as joint book-running managers for the offering. Needham & Company and Wedbush PacGrow acted as co-managers for the offering.
A shelf registration statement relating to the common shares offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on June 3, 2020 and declared effective by the SEC on June 12, 2020. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC on March 10, 2021 and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com, or by phone at (877) 821-7388; from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, Attn: Syndicate, or by phone at (415) 364-2720 or by email at syndprospectus@stifel.com; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email: prospectus@williamblair.com.
No securities were offered or sold, directly or indirectly, in Canada or to any resident of Canada.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other 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 other jurisdiction.
Xenon Investor/Media Contact:
Jodi Regts
Xenon Pharmaceuticals Inc.
Phone: 604.484.3353
Email: investors@xenon-pharma.com
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