Sunesis Pharmaceuticals (SNSS) Prices Aggregate $25M Common Stock, Conv. Preferred Stock Offerings

October 19, 2016 9:05 AM EDT

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Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS) announced the pricing of underwritten offerings of (i) 4,935,500 shares of its common stock at a price of $3.85 per share, and (ii) 1,558 shares of its non-voting Series C Convertible Preferred Stock (“Series C Stock”) at a price of $3,850.00 per share. Sunesis expects to receive combined gross proceeds of approximately $25 million from these offerings, before deducting the underwriting discount and other estimated offering expenses. Sunesis has granted the underwriters a 30-day option to purchase up to an additional 740,325 shares of common stock to cover over-allotments, if any. These offerings are expected to close on or about October 24, 2016, subject to customary closing conditions.

Each share of non-voting Series C Stock is convertible into 1,000 shares of Sunesis common stock, provided that conversion will be prohibited if, as a result, the holder and its affiliates would own more than 9.98% of the total number of shares of Sunesis common stock then outstanding. Sunesis anticipates using the net proceeds from the offerings for clinical development of SNS-062, regulatory development of vosaroxin in Europe and other general corporate purposes.

Cowen and Company, LLC and Wells Fargo Securities, LLC are acting as joint book-running managers.

Each of these offerings is being made by Sunesis pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”), which the SEC declared effective on June 10, 2014. For each of these offerings, a preliminary prospectus supplement has been filed with the SEC and a final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of each final prospectus supplement and the accompanying prospectus relating to each offering, when available, may be obtained from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140) or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by email at cmclientsupport@wellsfargo.com, or by telephone at (800) 326-5897.



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