Intercept’s Chief Executive Officer and certain members of Intercept’s board of directors participated in the public offering at the price offered to the public and on the same terms as the other purchasers in the public offering.
Concurrent with the public offering, Intercept will sell, subject to the consummation of the public offering and other customary conditions, in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), 1,562,500 shares of its common stock to Intercept’s largest existing stockholder, Genextra S.p.A.,
Intercept anticipates that the aggregate gross proceeds from the public offering and concurrent private placement, before deducting underwriting discounts and commissions related to the public offering and other offering expenses, will be approximately
Intercept intends to use the net proceeds from the public offering and concurrent private placement for working capital and general corporate purposes, which may include, among other things, funding the ongoing commercialization of Ocaliva in primary biliary cholangitis and the continued advancement of Intercept’s clinical, research and development programs.
Intercept has filed an automatic shelf registration statement, including a prospectus dated
The shares of common stock to be sold in the concurrent private placement have not been registered under the Securities Act or under any state securities laws and, unless so registered may not be offered or sold in
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered, in any state or other 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 other jurisdiction.
Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (PBC), nonalcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC) and biliary atresia. Founded in 2002 in
This press release contains forward-looking statements, including, but not limited to, statements related to the expected completion of the public offering and concurrent private placement, the potential aggregate proceeds from the public offering and concurrent private placement and Intercept’s intended use of proceeds from the public offering and concurrent private placement. These statements constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and Intercept undertakes no obligation to update any forward-looking statement except as required by law. These forward-looking statements are based on estimates and assumptions by Intercept’s management that, although believed to be reasonable, are inherently uncertain and subject to a number of risks. There can be no assurance that Intercept will be able to complete the proposed public offering or concurrent private placement on acceptable terms, or at all. Actual results may differ materially from historical results or those anticipated or predicted by Intercept’s forward-looking statements as a result of various important factors, including, but not limited to, the terms of the public offering and concurrent private placement, the risks and uncertainties related to whether or not Intercept will consummate the public offering or concurrent private placement, the impact of general economic, industry, market or political conditions and the other risks and uncertainties identified in Intercept’s periodic filings, including Intercept’s Annual Report on Form 10-K for the year ended
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Source: Intercept Pharmaceuticals, Inc.