CoLucid Pharmaceuticals Announces Pricing Of Public Offering Of Common Stock

CAMBRIDGE, Mass., Sept. 09, 2016 (GLOBE NEWSWIRE) -- CoLucid Pharmaceuticals, Inc. (“CoLucid”) (Nasdaq:CLCD), a biopharmaceutical company that is developing lasmiditan oral tablets for the acute treatment of migraine in adults, today announced the pricing of an underwritten public offering of 3,250,000 shares of its common stock at a public offering price of $20.00 per share, for aggregate gross proceeds of $65.0 million. In addition, CoLucid has granted the underwriters a 30-day option to purchase up to an additional 487,500 shares of common stock on the same terms and conditions. All of the shares of common stock in the offering are being sold by CoLucid. The offering is expected to close on September 14, 2016, subject to the satisfaction of customary closing conditions.

Piper Jaffray & Co. and Barclays Capital Inc. are acting as joint book-running managers for the offering. Stifel is acting as lead manager for the offering, and Ladenburg Thalmann is acting as co-manager for the offering.

CoLucid anticipates the aggregate net proceeds from the offering will be approximately $60.6 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by CoLucid, but excluding any exercise of the underwriters’ option to purchase additional shares of common stock. CoLucid intends to use the net proceeds from the offering to fund the continued clinical development of lasmiditan and the remainder for working capital and general corporate purposes.

A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and was declared effective on June 24, 2016. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on September 8, 2016. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s web site at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained, when available, by contacting: Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at prospectus@pjc.com, or by contacting: Barclays Capital Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com

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