Minerva Neurosciences Announces Pricing of Public Offering of Common Stock
(Thomson Reuters ONE) -
WALTHAM, Mass., June 28, 2017 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc.
(NASDAQ:NERV), a clinical-stage biopharmaceutical company, today announced the
pricing of an underwritten public offering of 5,000,000 shares of its common
stock at a price to the public of $7.75 per share. Proceeds to Minerva from the
offering, before deducting underwriting discounts and commissions and other
offering expenses, are expected to be approximately $38,750,000. The offering is
expected to close on or about July 5th, 2017, subject to customary closing
conditions.
Citigroup and Jefferies are acting as the book-running managers for the
offering, and JMP Securities is acting as lead manager for the offering.
Minerva has granted the underwriters a 30-day option to purchase up to an
additional 750,000 shares of its common stock, on the same terms and conditions.
Minerva intends to use the net proceeds from the offering, together with its
existing cash and investments, to fund part of the continued clinical
development of MIN-101, MIN-202, MIN-117 and MIN-301, and for working capital
and general corporate purposes.
The securities described above are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-205764) that was filed with the
United States Securities and Exchange Commission ("SEC") on July 21, 2015 and
that was declared effective by the SEC on July 27, 2015. The offering can be
made only by means of a written prospectus and prospectus supplement that form a
part of the registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to the offering has been filed with the SEC and
is available on the SEC's website at www.sec.gov. Copies of the preliminary
prospectus supplement and the accompanying prospectus may also be obtained by
request at Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by email at prospectus(at)citi.com or by phone at
(800) 831-9146, or Jefferies, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 821-7388, e-
mail: Prospectus_Department(at)Jefferies.com.
The securities described above have not been qualified under any state blue sky
laws. 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 Minerva Neurosciences
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company
focused on the development and commercialization of a portfolio of products to
treat CNS diseases. Minerva's proprietary compounds include: MIN-101, in
clinical development for schizophrenia; MIN-202 (JNJ-42847922), in clinical
development for insomnia and major depressive disorder (MDD); MIN-117, in
clinical development for MDD; and MIN-301, in pre-clinical development for
Parkinson's disease. Minerva's common stock is listed on the NASDAQ Global
Market under the symbol "NERV."
Forward-Looking Safe Harbor Statement
Any statements in this press release about future expectations, plans and
prospects for Minerva Neurosciences, Inc., including statements about Minerva's
anticipated public offering, anticipated use of proceeds and plans and prospects
for Minerva and other statements containing the words "anticipate," "believe,"
"estimate," "expect," "intend," "may," "plan," "predict," "project," "target,"
"potential," "will," "would," "could," "should," "continue," and similar
expressions, constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements as a result
of various important factors, including: the uncertainties related to market
conditions and the completion of the public offering on the anticipated terms or
at all, uncertainties inherent in the initiation of future clinical trials and
such other factors as are set forth in the risk factors detailed in Minerva's
Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with
the Securities and Exchange Commission on May 4, 2017 under the heading "Risk
Factors." In addition, the forward-looking statements included in this press
release represent Minerva's views as of the date hereof. Minerva anticipates
that subsequent events and developments will cause Minerva's views to change.
However, while Minerva may elect to update these forward-looking statements at
some point in the future, Minerva specifically disclaims any obligation to do
so. These forward-looking statements should not be relied upon as representing
Minerva's views as of any date subsequent to the date hereof.
Contact:
William B. Boni
VP, Investor Relations/
Corp. Communications
Minerva Neurosciences, Inc.
(617) 600-7376
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Minerva Neurosciences, Inc. via GlobeNewswire
Datum: 29.06.2017 - 00:47 Uhr
Sprache: Deutsch
News-ID 550389
Anzahl Zeichen: 6067
contact information:
Town:
Waltham
Kategorie:
Business News
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