Xencor (XNCR) Prices 4.585M Shares at $24/Sh

December 1, 2016 8:02 AM EST

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Xencor, Inc. (NASDAQ: XNCR) today announced the pricing of an underwritten public offering of 4,585,000 shares of its common stock, offered at a price to the public of $24.00 per share. The gross proceeds from this offering to Xencor are expected to be approximately $110 million, before deducting underwriting discounts and commissions and offering expenses payable by Xencor. The offering is expected to close on or about December 6, 2016, subject to customary closing conditions. In addition, Xencor has granted the underwriters a 30-day option to purchase up to an aggregate of 687,750 additional shares of common stock. All of the shares are being offered by Xencor. Xencor expects to use net proceeds of this offering for working capital and general corporate purposes, including additional investments in advancing its lead compound XmAb®5871 through later stages of clinical development and additional investment in its immune-oncology pipeline and technology.

Leerink Partners is acting as sole book-running manager in the offering. Canaccord Genuity and Wedbush PacGrow are acting as co-managers in the offering.



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