On August 5, 2020 Spectrum Pharmaceuticals, Inc. (Nasdaq: SPPI) ("Spectrum" or the "Company"), a biopharmaceutical company focused on novel and targeted oncology therapies, reported that the underwriters of its previously announced public offering of common stock have fully exercised and closed on their option to purchase an additional 3,250,000 shares of the Company’s common stock at the public offering price of $3.00 per share, less underwriting discounts and commissions, for additional anticipated net proceeds to the Company of approximately $9.2 million (Press release, Spectrum Pharmaceuticals, AUG 5, 2020, View Source [SID1234562906]). The option was granted in connection with the public offering of 21,666,667 shares of common stock at a public offering price of $3.00 per share, which closed on August 3, 2020.
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After giving effect to the exercise in full of the underwriters’ option, the total number of shares sold by Spectrum in the public offering was 24,916,667 shares and net proceeds to Spectrum were approximately $70.3 million, after deducting underwriting discounts and commissions, but before deducting the expenses of the offering.
Jefferies and Cantor Fitzgerald & Co. acted as joint book-running managers for the offering. JMP Securities acted as the lead manager for the offering. B. Riley FBR and H.C. Wainwright & Co. acted as co-managers for the offering.
The securities were offered pursuant to a shelf registration statement on Form S-3 (333-237319), which was declared effective by the Securities and Exchange Commission (the "SEC") on May 8, 2020. The offering was made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement relating to the offering was filed by Spectrum with the SEC on July 29, 2020 and is available on the SEC’s website at www.sec.gov. A final prospectus supplement and the accompanying prospectus was filed with the SEC on July 30, 2020 and is available at the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained for free by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-547-6340 or by email at [email protected]; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, NY 10022, or by email at [email protected].