Market Overview

Mirati Therapeutics Prices 3.25M Share Offering at $17.50/Share

Mirati Therapeutics (NASDAQ: MRTX) today announced the pricing of an underwritten public offering of 3,250,000 shares of its common stock at a price to the public of $17.50 per share.  The gross proceeds from this offering to Mirati are expected to be approximately $56.9 million, before deducting underwriting discounts and…Mirati Therapeutics (NASDAQ: MRTX) today announced the pricing of an underwritten public offering of 3,250,000 shares of its common stock at a price to the public of $17.50 per share.  The gross proceeds from this offering to Mirati are expected to be approximately $56.9 million, before deducting underwriting discounts and commissions and other offering expenses payable by Mirati. Mirati has granted the underwriters a 30-day option to purchase up to an aggregate of 487,500 additional shares of common stock.  The offering is expected to close on or about October 29, 2013, subject to customary closing conditions.  Mirati expects to use net proceeds of this offering for research and development expenses, working capital, potential future licensing or partnership transactions and for other general corporate expenses.

Jefferies LLC and Leerink Swann LLC are acting as joint book-running managers in the offering and Piper Jaffray & Co. is acting as lead manager in the offering.

Registration statements relating to the shares to be sold in the offering have been filed with the Securities and Exchange Commission ("SEC") and became effective on October 23, 2013. The registration statements, including the prospectus relating to the offering, is available on

See full press release

Posted-In: Earnings News Guidance Offerings Management Global

 

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