On June 4, 2019 XBiotech Inc. (NASDAQ: XBIT) reported the closing of its previously reported underwritten public offering of 4,848,485 of its common shares at a public offering price of $8.25 per share (Press release, XBiotech, JUN 4, 2019, View Source [SID1234536906]). In addition, XBiotech has granted the underwriter a 30-day option to purchase up to an additional 351,515 common shares at the public offering price, less underwriting discounts and commissions.
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Piper Jaffray acted as the sole underwriter in the offering.
XBiotech received gross proceeds of approximately $40 million. The proceeds of the offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by XBiotech, will be used primarily to advance bermekimab Phase 2 clinical trials in Hidradenitis Suppurativa and Atopic Dermatitis, and for general corporate and working capital purposes.
The common shares are being issued and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission. A final prospectus supplement and accompanying base prospectus relating to the offering each contain important information relating to the XBiotech common shares. The final prospectus supplement and accompanying base prospectus has been filed with the SEC and is available on the SEC’s website at View Source, and may also be obtained, when available, by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by email at [email protected], or by phone at (800) 747-3924.
This press release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of 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.