TIDMPRTC
RNS Number : 1458U
PureTech Health PLC
21 November 2019
21 November 2019
PureTech Health plc
PureTech Affiliate Karuna Therapeutics Announces Pricing of $250
Million Public Offering of Common Stock
PureTech Health plc (LSE: PRTC) ("PureTech"), a clinical stage
biotechnology company dedicated to discovering, developing and
commercialising highly differentiated medicines for devastating
diseases, notes that Karuna Therapeutics, Inc. (Karuna), an
affiliate of PureTech, announced the pricing of its previously
announced underwritten public offering of 2,600,000 shares of its
common stock at a price to the public of $96.00 per share. The
gross proceeds to Karuna from the offering, before deducting the
underwriting discounts and commissions and other estimated offering
expenses, are expected to be approximately $250.0 million. The
offering is expected to close on November 25, 2019, subject to
customary closing conditions. In addition, Karuna has granted the
underwriters a 30-day option to purchase an additional 390,000
shares of its common stock, at the public offering price, less the
underwriting discounts and commissions.
The full text of the announcement from Karuna Therapeutics is as
follows:
Karuna Therapeutics Announces Pricing of $250 Million Public
Offering of Common Stock
BOSTON, Mass., November 20, 2019 - Karuna Therapeutics, Inc.
(Nasdaq: KRTX), a clinical-stage biopharmaceutical company
committed to developing novel therapies with the potential to
transform the lives of people with disabling and potentially fatal
neuropsychiatric disorders and pain, today announced the pricing of
its previously announced underwritten public offering of 2,600,000
shares of its common stock at a price to the public of $96.00 per
share. The gross proceeds to Karuna from the offering, before
deducting the underwriting discounts and commissions and other
estimated offering expenses, are expected to be approximately
$250.0 million. The offering is expected to close on November 25,
2019, subject to customary closing conditions. In addition, Karuna
has granted the underwriters a 30-day option to purchase an
additional 390,000 shares of its common stock, at the public
offering price, less the underwriting discounts and
commissions.
Goldman Sachs & Co. LLC and Citigroup are acting as joint
book-running managers for the offering. Stifel, Nicolaus &
Company, Incorporated is also acting as a book-running manager. JMP
Securities LLC is acting as lead manager.
A registration statement relating to these securities was filed
with the Securities and Exchange Commission ("SEC") on November 18,
2019 and was declared effective by the SEC on November 20, 2019.
The offering is being made only by means of a prospectus. A copy of
the final prospectus relating to the offering will be filed with
the SEC and may be obtained, when available, on the SEC's website
at http://www.sec.gov or by contacting the offices of Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, NY 10282, by telephone: 1-866-471-2526 or by emailing
prospectus-ny@ny.email.gs.com; or Citigroup Global Markets Inc.,
Attention: Prospectus Department, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by phone
at (800) 831-9146.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any offer or sale of these securities in any state or
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 jurisdiction.
Forward Looking Statements
This press release contains forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including among other things, the timing and completion of
the public offering, and other statements identified by words such
as "could," "expects," "intends," "may," "plans," "potential,"
"should," "will," "would," or similar expressions and the negatives
of those terms. Forward-looking statements are not promises or
guarantees of future performance, and are subject to a variety of
risks and uncertainties, many of which are beyond our control.
Actual results could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, market risks and
uncertainties and the satisfaction of customary closing conditions
for an offering of securities. These and other risks are described
under the heading "Risk Factors" in our most recent Quarterly
Report on Form 10-Q filed with the SEC and in other filings that
Karuna makes with the SEC. Our actual results could differ
materially from the results described in or implied by such
forward-looking statements. Forward-looking statements speak only
as of the date hereof, and, except as required by law, we undertake
no obligation to update or revise these forward-looking
statements.
About PureTech Health
PureTech is a clinical stage biotechnology company dedicated to
discovering, developing and commercialising highly differentiated
medicines for devastating diseases, including intractable cancers,
lymphatic and gastrointestinal diseases, central nervous system
disorders, and inflammatory and immunological diseases, among
others. The Company has created a broad and deep pipeline through
the expertise of its experienced research and development team and
its extensive network of scientists, clinicians and industry
leaders. This pipeline, which is being advanced both internally and
through PureTech's affiliates, is comprised of 24 product
candidates and one product that has been cleared by the US Food and
Drug Administration (FDA). All of the underlying programmes and
platforms that resulted in this pipeline of product candidates were
initially identified or discovered and then advanced by the
PureTech team through key validation points based on the Company's
unique insights into the biology of the brain, immune, and gut, or
BIG, systems and the interface between those systems, referred to
as the BIG Axis.
Forward Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company's future prospects, developments, and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risks and uncertainties described in the risk factors
included in the regulatory filings for PureTech Health plc. These
forward-looking statements are based on assumptions regarding the
present and future business strategies of the company and the
environment in which it will operate in the future. Each
forward-looking statement speaks only as at the date of this press
release. Except as required by law and regulatory requirements,
neither the company nor any other party intends to update or revise
these forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact:
Investors EU media
Allison Mead Talbot Ben Atwell, Rob Winder
+1 617 651 3156 +44 (0) 20 3727 1000
amt@puretechhealth.com ben.atwell@FTIconsulting.com
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END
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