PTC Therapeutics Announces Partial Exercise of Underwriter's Option to Purchase Additional Shares
SOUTH PLAINFIELD, N.J., Feb. 25, 2019 /PRNewswire/ -- PTC Therapeutics, Inc. (Nasdaq: PTCT) announced today that the sole underwriter of its previously announced public offering of 6,720,000 shares of its common stock, which closed on January 25, 2019, has partially exercised its option to purchase additional shares of common stock at the public offering price less underwriting discounts and commissions. After giving effect to the closing with respect to the 843,725 additional shares purchased, the total number of shares sold by PTC in the offering increased to 7,563,725 shares. All of the shares in the offering were sold by PTC. PTC's aggregate net proceeds from the offering are expected to be approximately $224.1 million, after deducting underwriting discounts and commissions and estimated offering expenses.
RBC Capital Markets acted as the sole book-running manager for the offering.
An automatically effective shelf registration statement on Form S-3 relating to the shares of common stock offered in the public offering has been filed with the Securities and Exchange Commission (the "SEC") and is available on the SEC's website at www.sec.gov. A final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281; telephone: (877) 822-4089; email: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
About PTC Therapeutics
PTC is a science-led, global biopharmaceutical company focused on the discovery, development and commercialization of clinically-differentiated medicines that provide benefits to patients with rare disorders. PTC's ability to globally commercialize products is the foundation that drives investment in a robust pipeline of transformative medicines and our mission to provide access to best-in-class treatments for patients who have an unmet medical need.
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SOURCE PTC Therapeutics, Inc.