Global Blood Therapeutics Prices A $100.0 Million Common Stock Public Offering

SOUTH SAN FRANCISCO, Calif., Dec. 15, 2017 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (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 the pricing of its underwritten public offering of its common stock for gross proceeds of approximately $100.0 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 December 19, 2017, subject to customary closing conditions. In addition, GBT has granted the underwriters a 30-day option to purchase approximately $15.0 million of additional shares of common stock.

Cantor Fitzgerald & Co. is the sole book-running manager for the offering. The underwriters may offer the shares from time to time for sale in one or more transactions on The NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. On December 14, 2017, the last sale price of the shares as reported on The NASDAQ Global Select Market was $39.40 per share.

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, its other research and development activities, and for working capital and general corporate purposes.

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 final prospectus supplement and the accompanying prospectus may also be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at prospectus@cantor.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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