CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 20, 2011--
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced the
completion of its previously announced public offering of 24,725,000
shares of common stock, including 3,225,000 shares issued pursuant to
the underwriters’ exercise of their over-allotment option, at a public
offering price of $10.42 per share, for total gross proceeds of
approximately $258 million. Net proceeds to ARIAD from the offering are
approximately $243 million after deducting underwriting discounts and
commissions and estimated offering expenses.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Jefferies &
Company, Inc. acted as joint book-running managers and underwriters for
the offering. BMO Capital Markets Corp., Leerink Swann LLC, Oppenheimer
& Co. Inc. and Rodman & Renshaw, LLC acted as co-managers for the
offering.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was filed with
the Securities and Exchange Commission (the “SEC”) and is effective. A
final prospectus supplement relating to the offering has been filed with
the SEC. Copies of the final prospectus supplement and accompanying
prospectus may be obtained from the offices of J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 (Telephone number 866-803-9204), the offices of Cowen
and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 (Telephone number 631-274-2806), or the
offices of Jefferies & Company, Inc., Equity Syndicate Prospectus
Department, 520 Madison Avenue, New York, NY 10022 (Telephone number
877-547-6340).
This press 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 ARIAD
ARIAD Pharmaceuticals, Inc. is an emerging global oncology company
focused on the discovery, development and commercialization of medicines
to transform the lives of cancer patients. ARIAD’s approach to
structure-based drug design has led to three internally discovered,
molecularly targeted product candidates for drug-resistant and
difficult-to-treat cancers, including certain forms of chronic myeloid
leukemia, soft tissue and bone sarcomas and non-small cell lung cancer.
Forward-looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to the net proceeds from
the offering. Actual results or developments may differ materially from
those projected or implied in these forward looking statements. Factors
that may cause such a difference include, without limitation, risks and
uncertainties related to whether or not we will be able to raise capital
through the sale of shares of common stock, market and other conditions,
the satisfaction of customary closing conditions related to the public
offering and the impact of general economic, industry or political
conditions in the United States or internationally. There can be no
assurance that we will be able to complete the public offering on the
anticipated terms, or at all. You should not place undue reliance on
these forward looking statements, which apply only as of the date of
this press release. Additional risks and uncertainties relating to the
offering, ARIAD and our business can be found under the heading "Risk
Factors" in the filings that we periodically make with the SEC and in
the preliminary prospectus supplement related to the offering filed with
the SEC on the date hereof. In addition, the forward-looking statements
included in this press release represent our views as of the date of
this press release. We anticipate that subsequent events and
developments will cause our views to change. However, while we may elect
to update these forward-looking statements at some point in the future,
we specifically disclaim any obligation to do so. These forward-looking
statements should not be relied upon as representing our views as of any
date subsequent to the date of this press release.
Source: ARIAD Pharmaceuticals, Inc.
ARIAD Pharmaceuticals, Inc.
For Investors
Maria
E. Cantor, 617-621-2208
Maria.cantor@ariad.com
pr
For
Media
Liza Heapes, 617-621-2315
Liza.heapes@ariad.com
