Global Blood Therapeutics Announces Full Exercise Of Underwriter’s Option To Purchase Additional Shares

SOUTH SAN FRANCISCO, Calif., March 12, 2018 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (Nasdaq:GBT), a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders with significant unmet need, today announced that the underwriter of its previously announced underwritten public offering has exercised in full its option to purchase an additional 600,000 shares of GBT’s common stock. Including this option exercise, total gross proceeds to GBT from the offering of an aggregate of 4,600,000 shares at a price to the public of $54.00 per share will be approximately $248.4 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by GBT. The offering is expected to close on or about March 13, 2018, subject to customary closing conditions.

GBT intends to use the net proceeds from the offering to fund its clinical development of voxelotor for the treatment of sickle cell disease, including its ongoing Phase 3 HOPE Study and its ongoing Phase 2a HOPE-KIDS 1 Study, as well as future clinical trials, to build and expand its commercial organization in preparation for the potential approval and launch of voxelotor, to fund its other research and development activities, and for working capital and general corporate purposes. GBT may also use a portion of the net proceeds to in-license, acquire or invest in new business, technology or assets, although it has no material agreements, commitments or understandings in place.

Wells Fargo Securities, LLC is the sole book-running manager for the offering.

An automatic shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on August 23, 2017 and automatically became effective upon filing. The securities may be offered only by means of a written prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152 or by telephone at (800) 326-5897, or by email at cmclientsupport@wellsfargo.com.

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and ...

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