PHILADELPHIA, Dec. 16, 2015 /PRNewswire/ -- Spark Therapeutics, Inc. (Spark) recently announced a public offering issuing two-million primary shares at $47.00 per share. Spark indicated that proceeds of the sale are expected to be used for future expansion and product development.
Included in the sale as a secondary offering are one-million shares, at $47.00, held by The Children's Hospital of Philadelphia (CHOP). CHOP shares are being offered in order to recoup its initial capital investment in Spark and as part of its strategy to monetize its holdings in an orderly manner. Following the sale, CHOP will hold approximately 7.9 million shares of Spark Therapeutics, assuming no exercise by the underwriters of their option to purchase additional shares.
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 of these securities under the securities laws of any such state or jurisdiction.
About The Children's Hospital of Philadelphia: The Children's Hospital of Philadelphia was founded in 1855 as the nation's first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals and pioneering major research initiatives, Children's Hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program receives the highest amount of National Institutes of Health funding among all U.S. children's hospitals. In addition, its unique family-centered care and public service programs have brought the 535-bed hospital recognition as a leading advocate for children and adolescents. For more information, visit http://www.chop.edu.
Contact: George Bochanski
SOURCE The Children's Hospital of Philadelphia