CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 24, 2013--
AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) today reported that it has
closed its recently announced public offering of common stock. The total
number of shares sold was 7,667,050, comprised of 6,667,000 shares of
common stock initially offered and an additional 1,000,050 shares of
common stock sold pursuant to the underwriters' exercise of their
over-allotment option, at the public offering price of $7.50 per share.
Aggregate net proceeds to the company were approximately $53.8 million,
after deducting underwriting discounts and commissions and estimated
J.P. Morgan Securities LLC acted as sole book-running manager for the
offering, with RBC Capital Markets, LLC and Canaccord Genuity Inc.
acting as co-lead managers.
The shares were sold by means of AVEO’s existing shelf registration
statement on Form S-3, a prospectus and related prospectus supplement,
all as filed with the Securities and Exchange Commission (the “SEC”).
Copies of the prospectus supplement may be obtained from the offices of
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
AVEO (NASDAQ: AVEO) is a cancer therapeutics company committed to
discovering, developing and commercializing targeted therapies to impact
patients' lives. AVEO Pharmaceuticals, Inc. conducts business as AVEO
Certain of the statements made in this press release are
forward-looking. Actual results or developments may differ
materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include,
without limitation, risk and uncertainties related to whether or not we
will be able to raise capital through the sale of shares of common
stock, market and other conditions, and the impact of general economic,
industry or political conditions in the United States or internationally.
You should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press release. Additional
risks and uncertainties relating to the offering, AVEO and our business
can be found under the heading “Risk Factors” included in AVEO’s current
report on Form 8-K filed with the SEC on January 16, 2013 and in the
prospectus supplement related to the offering filed with the SEC on
January 17, 2013, and in other filings that AVEO periodically makes with
the SEC. In addition, the forward-looking statements included in
this press release represent our views as of the date of this press
release. We anticipate that subsequent events and developments
will cause our views to change. However, while we may elect to
update these forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as representing our
views as of any date subsequent to the date of this press release.
Source: AVEO Oncology