Versartis (VSAR) Prices 4.9M Offering of Common Stock at $12.25/Share

September 28, 2016 9:04 AM EDT

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Versartis, Inc. (Nasdaq: VSAR), an endocrine-focused biopharmaceutical company that is developing somavaratan (VRS-317), a novel, long-acting form of recombinant human growth hormone (rhGH) for growth hormone deficiency (GHD), today announced the pricing of an underwritten public offering of 4,898,000 shares of its common stock at a public offering price of $12.25 per share. In addition, Versartis has granted the underwriters a 30-day option to purchase up to 734,700 additional shares of common stock at the public offering price. The offering is expected to close on October 3, 2016, subject to customary closing conditions.

Cowen and Company, Barclays and Piper Jaffray are acting as joint book-running managers and representatives of the underwriters for the offering. Canaccord Genuity and SunTrust Robinson Humphrey are acting as co-managers.

A shelf registration statement related to the offering was filed with the Securities and Exchange Commission (SEC) on November 6, 2015, as amended on December 4, 2015, and declared effective by the SEC on December 8, 2015.

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