XenoPort Announces Pricing of Public Offering of Common Stock
24 January 2014 - 3:00PM
Business Wire
XenoPort, Inc. (NASDAQ: XNPT) announced today the pricing of an
underwritten registered public offering of 12,000,000 shares of its
common stock at a price to the public of $6.00 per share. The size
of the offering was increased from the 10,000,000 shares previously
announced. XenoPort has also granted to the underwriters a 30-day
option to purchase up to an additional 1,800,000 shares of its
common stock. All of the shares in the offering are being offered
by XenoPort. The offering is expected to close on or about
January 29, 2014, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC is acting as sole
book-running manager for the offering. RBC Capital Markets, LLC and
Wells Fargo Securities, LLC are acting as co-managers.
A registration statement relating to the shares described above
was previously filed with, and has been declared effective by, the
Securities and Exchange Commission (SEC). A final prospectus
supplement related to the offering will be filed with the SEC and
will be available on the SEC's website located at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus relating to this offering, when
available, may be obtained from Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department, One Madison Avenue, New York, NY
10010, or by telephone at (800) 221-1037, or by e-mail at
newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the shares in any state or other jurisdiction 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 XenoPort
XenoPort, Inc. is a biopharmaceutical company focused on
developing and commercializing a portfolio of internally discovered
product candidates for the potential treatment of neurological
disorders.
Forward-Looking Statements
This press release contains "forward-looking" statements,
including, without limitation, all statements related to the
offering. Any statements contained in this press release that are
not statements of historical fact may be deemed to be
forward-looking statements. Words such as "expected," "will" and
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are based upon
XenoPort's current expectations. Forward-looking statements involve
risks and uncertainties. XenoPort's actual results and the timing
of events could differ materially from those anticipated in such
forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, risks and
uncertainties associated with market conditions, whether XenoPort
will be able to consummate the offering and the satisfaction of
closing conditions related to the offering. There can be no
assurance that XenoPort will be able to complete the offering.
Regardless of whether the offering is consummated, XenoPort will
continue to need additional funding and may be unable to raise
capital when needed, which would force XenoPort to delay, reduce or
eliminate its product development programs or commercialization
efforts. These and other risk factors related to XenoPort and its
business are discussed under the heading "Risk Factors" in
XenoPort's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2013, filed with the SEC on November 8, 2013, and in
the preliminary prospectus supplement related to the offering filed
with the SEC on January 21, 2014. XenoPort expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the company's expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statements are based.
XNPT2F
XenoPortJackie Cossmon, 408-616-7220ir@XenoPort.com
Xenoport, Inc. (NASDAQ:XNPT)
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