Portola Announces Pricing of Public Offering of Common Stock
10 Mars 2015 - 2:29PM
Portola Pharmaceuticals, Inc. (Nasdaq:PTLA) announced today the
pricing of its underwritten public offering of 2,495,652 shares of
its common stock at a price to the public of $40.00 per share. In
addition, the underwriters of the offering have been granted a
30-day option to purchase up to an additional 374,348 shares from
Portola at the public offering price. The offering is expected to
close on March 13, 2015, subject to customary closing conditions.
Morgan Stanley and Credit Suisse are acting as the joint
book-running managers for the offering. Cowen and Company and
Sanford C. Bernstein are acting as co-managers. A preliminary
prospectus supplement and final prospectus supplement may be
obtained from the offices of Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014, or by email at prospectus@morganstanley.com or
Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, One Madison Avenue, New York, NY 10010, by email at
newyork.prospectus@credit-suisse.com or by toll-free call to (800)
221-1037.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission and became
effective on October 1, 2014. This press release shall 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.
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a biopharmaceutical company
developing product candidates that could significantly advance the
fields of thrombosis and other hematologic diseases. The Company is
advancing its three wholly-owned programs using novel biomarker and
genetic approaches that may increase the likelihood of clinical,
regulatory and commercial success of its potentially life-saving
therapies. Portola's partnered program is focused on developing
selective Syk inhibitors for inflammatory conditions.
Forward-Looking Statements
This announcement contains forward-looking statements, including
statements relating to Portola Pharmaceuticals' expectations
regarding the completion of the proposed public offering. These
statements are subject to significant risks and uncertainties and
actual results could differ materially from those projected.
Portola Pharmaceuticals cautions investors not to place undue
reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to market conditions and
satisfaction of customary closing conditions related to the public
offering. There can be no assurance that Portola Pharmaceuticals
will be able to complete the public offering on the anticipated
terms, or at all. Risks and uncertainties relating to Portola
Pharmaceuticals and its business can be found in the "Risk Factors"
section of Portola Pharmaceuticals' Form 10-K for the year ended
December 31, 2014 filed with the SEC on March 2, 2015, and in the
prospectus supplement related to the offering filed with the SEC.
Portola Pharmaceuticals undertakes no duty or obligation to update
any forward-looking statements contained in this release as a
result of new information, future events or changes in Portola
Pharmaceuticals' expectations.
CONTACT: Media: Joey Fleury, BrewLife,
jfleury@brewlife.com, 415.946.1090
Investors: Alexandra Santos, Portola Pharmaceuticals,
ir@portola.com, 650.246.7239
Portola Pharmaceuticals (NASDAQ:PTLA)
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