On March 26, 2021 AVEO Oncology (Nasdaq: AVEO) reported the closing of its previously announced underwritten public offering of 6,900,000 shares of its common stock, which includes the full exercise by the underwriters of their option to purchase an additional 900,000 shares, at a price to the public of $8.00 per share (Press release, AVEO, MAR 26, 2021, View Source [SID1234577235]). The aggregate gross proceeds to AVEO from the offering were $55.2 million, before deducting underwriting discounts and commissions and offering expenses payable by AVEO.
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The net proceeds of the offering are expected to be used for working capital and general corporate purposes, including to support commercialization activities relating to FOTIVDA (tivozanib) and to advance AVEO’s pipeline.
SVB Leerink and Stifel acted as joint bookrunning managers for the offering. Baird acted as lead manager for the offering. H.C. Wainwright & Co. and JonesTrading acted as co-managers for the offering.
The shares were offered by AVEO pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission ("SEC") on November 9, 2020 and declared effective by the SEC on November 18, 2020.
A final prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105 or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.