Otonomy Announces Proposed Public Offering of ~$100M Common Stock
Otonomy, Inc. (NASDAQ: OTIC), a biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the ear, today announced that it has commenced an underwritten public offering of approximately $100 million of its common stock. All shares of common stock to be sold in the offering will be offered by Otonomy. In addition, Otonomy expects to grant the underwriters a 30-day option to purchase up to an additional approximately $15 million of its common stock. The number of shares to be offered and the price for the proposed offering have not yet been determined.
BofA Merrill Lynch, Cowen and Company and Piper Jaffray are acting as joint book-running managers of the proposed offering. Sanford C. Bernstein and SunTrust Robinson Humphrey are acting as co-managers. 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.
A shelf registration statement (File No. 333-206752) was previously filed with the Securities and Exchange Commission (SEC) on September 3, 2015 and became effective on September 14, 2015. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting one of the following: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or by email at firstname.lastname@example.org; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department; or Piper Jaffray & Co., 800 Nicollet Mall, Suite 1000, Minneapolis, MN 55402, or by telephone at 800-747-3924, or by email at email@example.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
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