ZIOPHARM Announces $50M Offering of Common Stock
ZIOPHARM Oncology (NASDAQ: ZIOP) today announced that it intends to commence an underwritten public offering of $50,000,000 of shares of its common stock. All of the shares in the proposed offering are to be sold by ZIOPHARM.
J.P. Morgan Securities LLC will act as sole book-running manager for the proposed offering. ZIOPHARM intends to grant the underwriters a 30-day option to purchase up to $7,500,000 of additional shares. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
ZIOPHARM intends to use the net proceeds from the public offering for the overall development of its drug candidates, including its synthetic biology candidates and small molecule candidates, and for general corporate and working capital purposes.
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. A preliminary prospectus supplement relating to the offering has been filed with the SEC. Copies of the preliminary prospectus supplement and accompanying