CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 17, 2013--
AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) today announced the pricing of
an underwritten public offering of 6,667,000 shares of its common stock
at a price of $7.50 per share to the public. All of the shares are being
sold by AVEO. The gross proceeds to AVEO from this offering are expected
to be approximately $50.0 million, before deducting underwriting
discounts and commissions, and other estimated offering expenses payable
by AVEO. The offering is expected to close on or about January 23, 2013,
subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities LLC is acting as sole book-running manager for
the offering, with RBC Capital Markets, LLC and Canaccord Genuity Inc.
acting as co-lead managers. AVEO has granted the underwriters a 30-day
option to purchase up to an additional 1,000,050 shares of common stock
to cover over-allotments, if any.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was filed with
the Securities and Exchange Commission (the "SEC") and is effective. The
offering is being made by means of a prospectus and related prospectus
supplement. Copies of the prospectus supplement may be obtained, when
available, 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, such as those, among others, relating to our
expectations regarding the completion of the proposed public offering.
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,
the satisfaction of customary closing conditions related to the proposed
public offering and the impact of general economic, industry or
political conditions in the United States or internationally. There
can be no assurance that we will be able to complete the proposed public
offering on the anticipated terms, or at all. 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 proposed 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
preliminary prospectus supplement related to the proposed offering filed
with the SEC on or about the date hereof, 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 Pharmaceuticals, Inc.