Organovo (ONVO) Prices 9M Share Stock Offering for Proceeds of $25M

October 20, 2016 9:12 AM EDT

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Organovo Holdings, Inc. (Nasdaq: ONVO) announced the sale of 9,000,000 shares of its common stock in an underwritten public offering at a price to the public of $2.75 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of its common stock on the same terms and conditions. The gross offering proceeds to Organovo from the sale of the shares are expected to be approximately $25.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding any proceeds from the exercise of the underwriters’ option. The offering is expected to close on or about October 25, 2016, subject to customary closing conditions.

The Company anticipates using the net proceeds from this offering for general corporate purposes, including research and development, the development and commercialization of its products, general administrative expenses, and working capital and capital expenditures.

Jefferies LLC and Evercore ISI are acting as joint book-running managers for the offering. Raymond James & Associates, Inc. is acting as lead manager, and BTIG is acting as co-manager.

The shares described above are offered pursuant to a shelf registration statement on Form S-3 previously filed with and declared effective by the Securities and Exchange Commission (“SEC”). Organovo intends to file a final prospectus supplement relating to the offering with the SEC, which will be available along with the accompanying prospectus filed with the SEC in connection with the shelf registration, on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus, when available, may also be obtained by sending a request to: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, New York 10022, by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055 or by email at ecm.prospectus@evercore.com.



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