CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Ironwood
Pharmaceuticals, Inc. (NASDAQ: IRWD) today announced that the
underwriters of its previously announced public offering of shares of
Class A common stock have partially exercised their option to purchase
an additional 704,948 shares at a public offering price of $13.00 per
share. These shares were purchased pursuant to the underwriters' option
to purchase up to 1,575,000 additional shares in the offering. As a
result, the Company has issued a total of 11.2 million shares in the
offering and has received aggregate net proceeds, after underwriting
discounts and commissions and other estimated offering expenses, of
approximately $137.7 million. The initial offering of 10,500,000 shares
closed on May 24, 2013. The closing for the additional 704,948 shares
closed on June 4, 2013.
J.P. Morgan and BofA Merrill Lynch served as joint bookrunning managers
and as representatives of the underwriters for the offering. Morgan
Stanley served as bookrunning manager for the offering. Cowen and
Company, Ladenburg Thalmann & Co. Inc. and Mizuho Securities served as
co-managers for the offering. A copy of the final prospectus supplement
related to the offering has been filed with the Securities and Exchange
Commission (SEC) and is available on the SEC's website located at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering may be obtained from the offices
of: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717 (telephone number: 866-803-9204) or
from BofA Merrill Lynch, 222 Broadway, New York, New York 10038,
Attention: Prospectus Department or by emailing [email protected].
The securities described above are being offered by Ironwood pursuant to
an automatically effective shelf registration statement that was
previously filed with the SEC. This press release shall not constitute
an offer to sell, or the solicitation of an offer to buy, any of the
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 registration or qualification under the securities
laws of any such state or jurisdiction.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals (NASDAQ: IRWD) is committed to the art and
science of making medicines, from discovery through commercialization.
We're focused on three goals: transforming knowledge into medicines that
make a difference for patients, creating value that will inspire the
continued support of our fellow shareholders, and building a team that
passionately pursues excellence. Our first product, linaclotide, is
approved in the United States and Europe. Our pipeline priorities
include exploring further opportunities for linaclotide, leveraging our
deep expertise in functional gastrointestinal disorders, and advancing
programs in other areas such as allergic conditions, cardiovascular
disease, central nervous system disorders and other conditions defined
by patient symptoms. Ironwood was founded in 1998 and is headquartered
in Cambridge, Mass.
This press release contains forward looking statements. Investors are
cautioned not to place undue reliance on these forward-looking
statements, including, but not limited to, statements relating to
Ironwood's expectations regarding the use of proceeds. Each
forward-looking statement is subject to risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied in such statement. Applicable risks and uncertainties include,
but are not limited to, the risk that Ironwood uses the proceeds from
this offering for purposes other than those set forth in the offering
prospectus. Applicable risks also include those that are included in
Ironwood's Quarterly Report on Form 10-Q for the three months ended
March 31, 2013, in addition to the risk factors that are included from
time to time in Ironwood's Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q, and any subsequent SEC filings, including the
prospectus supplement related to the offering to be filed with the SEC.
Ironwood undertakes no obligation to update these forward-looking
statements to reflect events or circumstances occurring after this press
release. These forward-looking statements speak only as of the date of
this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.
Ironwood Pharmaceuticals, Inc.
Media Relations
Lisa
Buffington, 617-374-5103
Vice President, Corporate Communications
[email protected]
or
Investor
Relations
Meredith Kaya, 617-374-5082
Associate Director,
Investor Relations
[email protected]
Source: Ironwood Pharmaceuticals, Inc.
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