Ironwood Pharmaceuticals Announces Exercise of Underwriters' Option in Public Offering of Common Stock
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Pharmaceuticals, Inc. (NASDAQ:IRWD) today announced that the
underwriters of its previously announced public offering of Class A
common stock have exercised their option to purchase an additional
2,058,825 shares at a public offering price of $12.75 per share. As a
result, Ironwood will issue a total of 15,784,325 shares in the offering
and will receive aggregate net proceeds, after underwriting discounts
and commissions and other estimated offering expenses, of approximately
$190.4 million. The offering is expected to close on February 14, 2014,
subject to the satisfaction of customary closing conditions.
J.P. Morgan and BofA Merrill Lynch are acting as joint bookrunning
managers and as representatives of the underwriters for the offering.
Morgan Stanley is acting as bookrunning manager for the offering.
Ladenburg Thalmann & Co. Inc. and Mizuho Securities are acting as
co-managers for the offering.
The final prospectus supplement related to the offering has been filed
with the Securities and Exchange Commission (SEC) and is available on
the SEC's website located at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering may be obtained from the offices
of: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717 (telephone number: 866-803-9204) or
from BofA Merrill Lynch, 222 Broadway, New York, New York 10038,
Attention: Prospectus Department or by emailing firstname.lastname@example.org.
The securities described above are being offered by Ironwood pursuant to
an automatically effective shelf registration statement that was
previously filed with the SEC. This press release shall not constitute
an offer to sell, or the solicitation of an offer to buy, any of the
securities, 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 Ironwood Pharmaceuticals
Ironwood Pharmaceuticals (NASDAQ:IRWD) is focused on creating medicines
that make a difference for patients, building value to earn the
continued support of our fellow shareholders, and empowering our team to
passionately pursue excellence. We discovered, developed and are
commercializing linaclotide, which is approved in the United States and
Europe. Our pipeline priorities include exploring further opportunities
for linaclotide, as well as leveraging our therapeutic expertise in
gastrointestinal disorders and our pharmacologic expertise in guanylate
cyclases to address patient needs across the upper and lower
gastrointestinal tract. Ironwood was founded in 1998 and is
headquartered in Cambridge, Mass.
This press release contains forward-looking statements. Investors are
cautioned not to place undue reliance on these forward-looking
statements, including, but not limited to, statements relating to
Ironwood's expectations regarding the completion, timing and net
proceeds of the offering. Each forward-looking statement is subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in such statement. Applicable
risks and uncertainties include, but are not limited to, those
associated with market conditions and the satisfaction of customary
closing conditions related to the offering. Applicable risks also
include those that are included in Ironwood's Annual Report on Form 10-K
for the year ended December 31, 2013 and the final prospectus supplement
related to the offering, each filed with the SEC, in addition to the
risk factors that are included from time to time in Ironwood's Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent
SEC filings. Ironwood undertakes no obligation to update these
forward-looking statements to reflect events or circumstances occurring
after this press release. These forward-looking statements speak only as
of the date of this press release. All forward-looking statements are
qualified in their entirety by this cautionary statement.
Source: Ironwood Pharmaceuticals, Inc.