Minerva Neurosciences Announces Pricing Of Public Offering Of Common Stock

Minerva Neurosciences, Inc. (Nasdaq: NERV), a clinical-stage biopharmaceutical company, today announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $7.75 per share. Proceeds to Minerva from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $38,750,000. The offering is expected to close on or about July 5th, 2017, subject to customary closing conditions.

Citigroup and Jefferies are acting as the book-running managers for the offering, and JMP Securities is acting as lead manager for the offering. Minerva has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock, on the same terms and conditions.

Minerva intends to use the net proceeds from the offering, together with its existing cash and investments, to fund part of the continued clinical development of MIN-101, MIN-202, MIN-117 and MIN-301, and for working capital and general corporate purposes. 

The securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-205764) that was filed with the United States Securities and Exchange Commission (“SEC”) on July 21, 2015 and that was declared effective by the SEC on July 27, 2015. The offering can be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by request at Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus@citi.com or by phone at (800) 831-9146, or Jefferies, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 821-7388, e-mail: Prospectus_Department@Jefferies.com.

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