Onyx Pharmaceuticals Announces Pricing of Public Offering of Common Stock
17 January 2013 - 12:32AM
Marketwired
Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) today announced the
pricing of an underwritten public offering of 4,400,000 shares of
its common stock. The gross proceeds to Onyx from this offering are
expected to be approximately $358,600,000, before underwriting
discounts and commissions and other estimated offering expenses
payable by Onyx. Onyx has also granted the underwriters a 30-day
option to purchase up to an additional 660,000 shares of common
stock offered in the public offering to cover overallotments, if
any. The offering is expected to close on or about January 22,
2013, subject to customary closing conditions. Onyx intends to use
the net proceeds from this offering to fund its clinical
development programs, research and development activities, and
sales and marketing activities to commercialize Kyprolis around the
world, and for general corporate purposes, including working
capital.
BofA Merrill Lynch and Barclays are acting as joint book-running
managers for this offering.
A registration statement relating to the shares described above
was previously filed with and has become effective by rule of the
Securities and Exchange Commission (the "SEC"). A final prospectus
supplement relating to the offering will be filed with the SEC and
will be available on the SEC's website at http://www.sec.gov.
Copies of the final prospectus supplement and related prospectus,
when available, may be obtained from BofA Merrill Lynch, 222
Broadway, New York, NY 10038, attention: Prospectus Department, or
e-mail dg.prospectus_requests@baml.com, or Barclays, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717 (telephone number 888-603-5847), or email
Barclaysprospectus@broadridge.com.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Onyx Pharmaceuticals, Inc. Based in
South San Francisco, California, Onyx Pharmaceuticals, Inc. is a
global biopharmaceutical company engaged in the development and
commercialization of innovative therapies for improving the lives
of people with cancer. The company is focused on developing novel
medicines that target key molecular pathways. For more information
about Onyx, visit the company's website at www.onyx.com.
Forward-Looking Statements This news
release contains "forward-looking statements" of Onyx within the
meaning of the federal securities laws. These forward-looking
statements include without limitation, statements regarding
completion of the offering and anticipated use of proceeds. These
statements are subject to risks and uncertainties that could cause
actual results and events to differ materially from those
anticipated, including risks and uncertainties related to market
conditions and satisfaction of customary closing conditions related
to the public offering. There can be no assurance that Onyx will be
able to complete the public offering on the anticipated terms, or
at all. Additional risks and uncertainties relating to Onyx can be
found under the heading "Risk Factors" in Onyx's Annual Report on
Form 10-K for the year ended December 31, 2011 and subsequent
Quarterly Reports on Form 10-Q, as filed with the SEC, and in the
prospectus supplement related to the offering to be filed with the
SEC. Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date of this
release. Onyx undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events, or
circumstances after the date of this release except as required by
law.
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