CONCORD, Calif.--(BUSINESS WIRE)--
Cerus Corporation (NASDAQ: CERS) today announced the pricing of an
underwritten public offering of 8,333,333 shares of its common stock,
offered at a price to the public of $4.20 per share. The gross proceeds
to Cerus from this offering are expected to be approximately $35.0
million, before deducting the underwriting discount and other estimated
offering expenses payable by Cerus. The offering is expected to close on
or about March 19, 2013, subject to customary closing conditions. In
addition, Cerus has granted the underwriters a 30-day option to purchase
at the public offering price up to an aggregate of 1,250,000 additional
shares of its common stock to cover overallotments, if any. Cerus
anticipates using the net proceeds from the offering for clinical
development and other research and development activities related to the
INTERCEPT Blood System, preparatory activities for the potential
commercialization of the INTERCEPT Blood System in the United States and
elsewhere, and for other general corporate purposes, including
regulatory activity, selling, general and administrative expenses and
working capital. Cerus may also use a portion of the net proceeds from
the offering to prepay the remaining outstanding indebtedness under its
growth capital loan with Comerica Bank.
Cowen and Company, LLC is acting as sole book-running manager for the
offering. Robert W. Baird & Co. Incorporated, Wedbush PacGrow Life
Sciences and Lazard Capital Markets LLC are acting as co-managers for
the offering. Blueprint Life Science Group, LLC and MLV & Co. LLC are
acting as Cerus’ financial advisors in connection with the offering.
The securities described above are being offered by Cerus pursuant to a
shelf registration statement previously filed with and declared
effective by the Securities and Exchange Commission (the “SEC”). A final
prospectus supplement related to the offering will be filed with the SEC
and will be available on the SEC’s website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering, when available, may be obtained
from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, New York 11717, Attn: Prospectus
Department, or by calling 631-274-2806, or by faxing 631-254-7140.
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.
ABOUT CERUS
Cerus Corporation is a biomedical products company focused on enhancing
blood safety. The INTERCEPT system is designed to reduce the risk of
transfusion-transmitted diseases by inactivating a broad range of
pathogens such as viruses, bacteria and parasites that may be present in
donated blood. The nucleic acid targeting mechanism of action enables
INTERCEPT treatment to inactivate established transfusion threats, such
as hepatitis B and C, HIV, West Nile virus and bacteria, and is designed
to inactivate emerging pathogens such as influenza, malaria and dengue.
Cerus currently markets and sells the INTERCEPT Blood System for both
platelets and plasma in Europe, the Commonwealth of Independent States,
the Middle East and selected countries in other regions around the
world. In the United States, Cerus is seeking regulatory approval of the
INTERCEPT Blood System for plasma, and is in the process of determining
the application shell for a potential regulatory submission for the
INTERCEPT Blood System for platelets. The INTERCEPT red blood cell
system is in clinical development.
INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus
Corporation.
This press release contains forward-looking statements. Any
statements contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements,
including, without limitation, statements relating to Cerus’ proposed
public offering. These forward-looking statements are based upon Cerus’
current expectations. Actual results could differ materially from these
forward-looking statements as a result of certain factors, including,
without limitation, risks related to whether Cerus will be able to raise
capital through the sale of shares of common stock, market conditions
and the satisfaction of customary closing conditions related to the
proposed public offering, risks related to the application of the net
proceeds from the proposed public offering, risks associated with the
uncertain research and product development process, and other risks
detailed in Cerus' filings with the SEC, including in Cerus' annual
report on Form 10-K for the year ended December 31, 2012, filed with the
SEC on March 12, 2013. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this press release. Cerus does not undertake any obligation to update
any forward-looking statements as a result of new information, future
events, changed assumptions or otherwise.
Source: Cerus Corporation