Intercept Pharmaceuticals Announces Proposed Offerings of $200 Million of Common Stock and $200 Million of Convertible Senior Notes due 2026
Intercept also announced that it is commencing an underwritten public offering to sell, subject to market and other conditions, up to
Intercept intends to use the net proceeds from the public offerings for working capital and general corporate purposes, which may include, among other things, funding launch preparation activities associated with the potential approval and commercialization of obeticholic acid for nonalcoholic steatohepatitis, the ongoing commercialization of Ocaliva in primary biliary cholangitis and the continued advancement of Intercept’s clinical and research and development programs. The public offerings are subject to market and other conditions, and there can be no assurance as to whether or when the public offerings may be completed, or as to the actual size or terms of the public offerings. The public offering of common stock and the public offering of the Notes are not contingent upon one another.
Intercept has filed an automatic shelf registration statement, including a prospectus dated May 10, 2017, with the Securities and Exchange Commission (the “SEC”) on Form S-3 pursuant to which the securities in the public offerings are being offered (the “Registration Statement”). Before you invest in the public offering of common stock and/or the public offering of the Notes, you should read the preliminary prospectus supplement(s) relating to and describing the terms of such public offering(s) that Intercept will file, and the related Registration Statement and other documents Intercept has filed, with the SEC for more complete information about Intercept and such public offering(s). You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplements and accompanying prospectus relating to the public offerings may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department,
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) and nonalcoholic steatohepatitis (NASH). Founded in 2002 in
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements related to Intercept’s intent to offer its securities in the public offerings, the potential aggregate proceeds from the public offerings and Intercept’s intended use of proceeds from the public offerings. These statements constitute forward-looking statements within the meaning of Section 27A of the Securities Act 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,” “possible,” “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 either or both of the proposed public offerings 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 offerings, the risks and uncertainties related to whether or not Intercept will consummate the public offerings, the impact of general U.S. and foreign economic, industry, market, regulatory or political conditions and the other risks and uncertainties identified in Intercept’s periodic filings filed with the
For more information about Intercept, please contact:
Source: Intercept Pharmaceuticals, Inc.