Ophthotech Corporation Announces Pricing of Public Offering of Common Stock

By Business Wire,  February 11, 2014, 10:29:00 PM EDT


NEW YORK--(BUSINESS WIRE)-- Ophthotech Corporation (NASDAQ:OPHT) announced today the pricing of an underwritten public offering of 2,285,714 shares of common stock at a public offering price of $31.50 per share, before underwriting discounts. Of the shares in the offering, 1,900,000 shares are being sold by Ophthotech, and 385,714 shares are being sold by certain stockholders of the company. In addition, these selling stockholders have granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 342,857 shares of the company's common stock at the public offering price, less the underwriting discount. Ophthotech will not receive any proceeds from the sale of shares by the selling stockholders.

Morgan Stanley and J.P. Morgan are acting as joint book-running managers for the offering. Leerink Partners and Stifel are acting as co-managers.

The offering is expected to close on or about February 18, 2014, subject to customary closing conditions. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 11, 2014.

The offering is being made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.

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 the registration or qualification under the securities laws of such state or jurisdiction.

About Ophthotech

Ophthotech is a biopharmaceutical company specializing in the development of novel therapeutics to treat diseases of the eye, with a focus on developing therapeutics for age-related macular degeneration. The company has initiated a pivotal Phase 3 clinical program for its most advanced product candidate, Fovista™ anti-PDGF therapy, which it is developing for use in combination with anti-VEGF drugs that represent the standard of care for the treatment of wet age-related macular degeneration.

Source: Ophthotech Corporation



This article appears in: News Headlines

Referenced Stocks: OPHT


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