PTC Therapeutics Announces Closing of Registered Public Offering of Common Stock, Including Full Exercise of Underwriters' Option to Purchase Additional Shares
SOUTH PLAINFIELD, N.J., Feb. 19, 2014 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) announced today the closing of its previously announced registered public offering of 5,163,265 shares of its common stock, including 673,469 shares sold by PTC as a result of the full exercise by the underwriters of their option to purchase additional shares, at a price to the public of $24.50 per share. PTC expects its net proceeds from this offering to be approximately $118 million, after deducting the underwriting discounts and commissions and estimated expenses.
J.P. Morgan and Credit Suisse acted as joint lead book-running managers for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 12, 2014.
The offering was made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; telephone: 866-803-9204; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010; telephone: 800-221-1037; email: email@example.com.
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 PTC Therapeutics, Inc.
PTC is biopharmaceutical company focused on the discovery and development of orally administered, proprietary small molecule drugs that target post-transcriptional control processes. Post-transcriptional control processes regulate the rate and timing of protein production and are essential to proper cellular function. PTC's internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. PTC has developed proprietary technologies that it applies in its drug discovery activities and which form the basis for collaborations with leading biopharmaceutical companies.
SOURCE PTC Therapeutics, Inc.