Sophiris Bio (SPHS) Prices Common Stock, Warrants Offering for Proceeds of $26M

August 23, 2016 9:32 AM EDT
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Sophiris Bio Inc. (Nasdaq: SPHS) announced the pricing of an underwritten public offering of 6,500,000 of its common shares and related warrants to purchase 4,875,000 of its common shares with an exercise price of $4.00 per share, offered at a combined price to the public of $4.00 per share and related warrant. The gross proceeds from this offering to Sophiris are expected to be $26.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Sophiris. Sophiris has granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 additional common shares and related warrants to purchase 731,250 of its common shares. The offering is expected to close on or about August 26, 2016, subject to customary closing conditions.

Piper Jaffray & Co. is acting as sole book-running manager for the offering. Maxim Group LLC is acting as co-manager for the offering.

The securities described above are being offered by Sophiris pursuant to an effective shelf registration statement filed by Sophiris with the Securities and Exchange Commission ("SEC") that became effective on October 3, 2014. A preliminary prospectus supplement related to the offering was filed with the SEC and is available on the SEC's website located at Copies of the final prospectus supplement and the accompanying prospectus related to this offering, when available, may be obtained from Piper Jaffray & Co., by mail at Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at

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