Theravance Biopharma, Inc. announces price of public offering of common shares
DUBLIN, June 24, 2021 / PRNewswire / – Theravance Biopharma, Inc. (NASDAQ: TBPH) (“Theravance Biopharma”), a diversified biopharmaceutical company primarily focused on the discovery, development and commercialization of organ selective drugs, today announced the price of its subscribed public offering of 6,700,000 ordinary shares at a public price of $ 15.00 per share. The gross proceeds of the offer for Theravance Biopharma are expected to be $ 100.5 million, before deduction of subscription discounts and commissions and estimated offering costs. In addition, Theravance Biopharma has granted the underwriters a 30-day option to purchase up to an additional 1,005,000 common shares at the public offering price, less underwriting discounts and commissions. The offer is expected to close on June 29, 2021, subject to customary closing conditions.
SVB Leerink and Evercore ISI acted as joint leaders. Credit Suisse also acted as bookrunner for the offer. HC Wainwright & Co. acted as leader of the offering.
A pre-registration statement (including a base prospectus) relating to the shares has been filed with the SEC and is in effect. A preliminary prospectus supplement relating to the offering has been filed with the SEC and a final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website. at the address http://www.sec.gov. Copies of the Final Prospectus Supplement and accompanying prospectus relating to this offering, when available, can be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, or by phone at 1-800-808-7525 ext. 6105, or by email at [email protected]; Evercore Group LLC, Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York State 10055, or by phone at (888) 474 0200, or by email at [email protected]; or Credit Suisse Securities (United States) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Raleigh, North Carolina 27560, or by phone at 1-800-221-1037, or by email at [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any State or other jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Safe Harbor Declaration under the Private Titles Litigation Reform Act 1995: This announcement contains “forward-looking statements” such as, among others, those relating to Theravance Biopharma’s expectations regarding the completion of the proposed public offer. These statements are subject to significant risks and uncertainties; actual results could differ materially from those projected and Theravance Biopharma cautions investors not to place undue reliance on any forward-looking statements contained in this press release. These risks and uncertainties include, without limitation, the risks and uncertainties associated with the satisfaction of customary closing conditions associated with the proposed public offering. There can be no assurance that Theravance Biopharma will be able to complete the public offering on the terms provided, if at all. The risks and uncertainties associated with Theravance Biopharma and its business can be found in the “Risk Factors” section of Theravance Biopharma Form 10-Q, filed with the SEC on May 6, 2021, in other documents filed by Theravance Biopharma with the SEC and in the preliminary prospectus supplement relating to the proposed offer filed with the SEC on June 24, 2021. Theravance Biopharma assumes no obligation or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in Theravance Biopharma’s expectations.
Contact: Gail Cohen
SOURCE Theravance Biopharma, Inc.