Investors & Media Press Releases

Axovant Gene Therapies Announces Pricing of $65 Million Public Offering

02.19.2020

NEW YORK and BASEL, Switzerland, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Axovant Gene Therapies Ltd. (Nasdaq: AXGT) ("Axovant") today announced the pricing of its underwritten public offering of 14,031,336 of its common shares at a price to the public of $3.75 per share. In addition, and in lieu of common shares, Axovant is offering to certain investors pre-funded warrants to purchase 3,301,998 common shares at a purchase price of $3.74999 per pre-funded warrant, which represents the per share public offering price for the common shares, minus the $0.00001 per share exercise price of each such pre-funded warrant. The aggregate gross proceeds to Axovant from the offering are expected to be approximately $65 million before deducting underwriting discounts and commissions and offering expenses. All of the common shares and pre-funded warrants are being offered by Axovant. In connection with this offering, Axovant has granted the underwriters a 30-day option to purchase up to an additional 2,600,000 of its common shares on the same terms and conditions. The offering is expected to close on February 24, 2020, subject to customary closing conditions.

SVB Leerink is acting as sole book-running manager for the offering. Chardan is acting as lead manager for the offering.

A shelf registration statement relating to the offered securities was filed with the Securities and Exchange Commission (SEC), and was declared effective on January 13, 2017. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website, located at www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus related to the offering may be obtained, when available, from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at syndicate@svbleerink.com.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

About Axovant
Axovant Gene Therapies, part of the Roivant family of companies, is a clinical-stage company focused on developing a pipeline of innovative gene therapy product candidates for debilitating neurological diseases. The company's current pipeline of gene therapy candidates targets GM1 gangliosidosis, GM2 gangliosidosis (including Tay-Sachs disease and Sandhoff disease), and Parkinson’s disease. Axovant is focused on accelerating product candidates into and through clinical trials with a team of experts in gene therapy development and through external partnerships with leading gene therapy organizations.

Contacts:
Investors and Analysts
David Nassif
Axovant Gene Therapies
Chief Financial Officer
(646) 677-6770

Media
Parag Meswani
Axovant Gene Therapies
(212) 547-2523
investors@axovant.com
media@axovant.com

AXOVANT Full Color Logo 2018OCT31 XSMALL F-01.jpg

Source: Axovant Sciences Ltd.