Summit Therapeutics Announces Closing of Its U.S. Initial Public Offering
March 10 2015 - 12:45PM
Business Wire
Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), the drug
discovery and development company advancing therapies for Duchenne
muscular dystrophy and C. difficile infection, today announced the
closing of its initial public offering of 3,450,000 American
Depositary Shares (“ADSs”) at a public offering price of $9.90 per
ADS, before underwriting discounts and commissions. All of the ADSs
in the offering were sold by Summit. In addition, Summit has
granted the underwriters an option for a period of 30 days to
purchase, at the public offering price less underwriting discounts
and commissions, up to an additional 517,500 ADSs to cover any
over-allotments. Each ADS represents five ordinary shares of
Summit. Summit’s ordinary shares will continue to trade on the AIM
market of the London Stock Exchange.
JMP Securities and Oppenheimer & Co. acted as joint
book-running managers for the offering. Needham & Company acted
as lead manager. Copies of the final prospectus relating to this
offering may be obtained from JMP Securities LLC, Prospectus
Department, 600 Montgomery Street, 10th Floor, San Francisco, CA
94111, telephone: +1 (415) 835-8985; from Oppenheimer & Co.
Inc., Syndicate Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY 10004, telephone: +1 (212) 667-8563 and from Needham
& Company, LLC, Prospectus Department, 445 Park Avenue, 4th
floor, New York, NY 10022, telephone: +1 (800) 903-3268.
A registration statement relating to these securities was
declared effective by the United States Securities and Exchange
Commission on March 4, 2015. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
any securities, 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 under the
securities laws of any such state or jurisdiction.
About Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery,
development and commercialization of novel medicines for
indications for which there are no existing or only inadequate
therapies. Summit is conducting clinical programs focused on the
genetic disease Duchenne muscular dystrophy and the infectious
disease C. difficile infection.
For more information, please contact:Summit
TherapeuticsGlyn Edwards / Richard Pye (UK office), Tel:
+44 (0)1235 443 951orErik Ostrowski (US office), +1 617 294
6607
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