AMAG Pharmaceuticals Prices Public Offering of $175 Million of Common Stock
26 February 2015 - 10:27AM
AMAG Pharmaceuticals, Inc. (Nasdaq:AMAG) announced today that it
has priced its previously announced underwritten public offering of
common stock consisting of 3,977,272 shares at a public offering
price of $44.00 per share. Gross proceeds to AMAG from this
offering are expected to be approximately $175 million. AMAG
intends to use the net proceeds from this offering for general
corporate purposes, including to continue the expansion and
diversification of its product portfolio through the in-license or
purchase of additional pharmaceutical products or companies.
AMAG has granted the underwriters a 30-day option to purchase up
to an additional 596,590 shares of common stock offered in the
public offering. All of the shares in the offering will be sold by
AMAG. The offering is expected to close on March 3, 2015, subject
to customary closing conditions. J.P. Morgan and Deutsche Bank
Securities are acting as joint book-running managers for the
offering. Cowen and Company and Baird are acting as co-managers for
the offering.
The public offering is being made pursuant to an automatic shelf
registration statement on Form S-3ASR that was previously filed
with the Securities and Exchange Commission (SEC). A final
prospectus supplement relating to the offering will be filed with
the SEC and will be available on the website of the SEC at
www.sec.gov. When available, copies of the final prospectus
supplement and accompanying base prospectus relating to the
offering may also be obtained from J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717 or by telephone: +1 (866) 803-9204 or from Deutsche Bank
Securities Inc., Attention: Prospectus Group, 60 Wall Street, New
York, NY 10005-2836 or by telephone: +1 (800) 503-4611 or by email:
prospectus.CPDG@db.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. Any offers, solicitations of offers to buy, or sales
of the common stock will only be made pursuant to the registration
statement filed with the SEC, including a prospectus and a related
preliminary prospectus supplement.
About AMAG
AMAG Pharmaceuticals, Inc. is a specialty pharmaceutical company
with a focus on maternal health, anemia and cancer supportive
care. The primary goal of AMAG is to bring to market therapies
that provide clear benefits and improve patients' lives. In
addition to continuing to pursue opportunities to make new
advancements in patients' health and to enhance treatment
accessibility, AMAG intends to continue to expand and diversify its
portfolio through the in-license or purchase of additional
pharmaceutical products or companies.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. Any statements contained herein
which do not describe historical facts, including but not limited
to statements regarding: the anticipated use of proceeds of the
offering and the timing of completion of the offering, are
forward-looking statements which involve risks and uncertainties
that could cause actual results to differ materially from those
discussed in such forward-looking statements.
Such risks and uncertainties include, among others, the risks
identified in AMAG's filings with the U.S. Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for the
fiscal year ended December 31, 2014 and subsequent filings with the
SEC. Any of these risks and uncertainties could materially and
adversely affect AMAG's results of operations, its profitability
and its cash flows, which would, in turn, have a significant and
adverse impact on AMAG's stock price. AMAG cautions you not to
place undue reliance on any forward-looking statements, which speak
only as of the date they are made.
CONTACT: AMAG Pharmaceuticals, Inc.:
Katie Payne, 617-498-3303
AMAG Pharmaceuticals (NASDAQ:AMAG)
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