Clovis Oncology (CLVS) Announces $75M At-The-Market Equity Offering Program

May 17, 2021 4:17 PM EDT

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Clovis Oncology, Inc. (NASDAQ: CLVS) announced today that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”), under which it may offer and sell, from time to time, shares of its common stock having an aggregate offering price of up to $75,000,000 million through an “at-the-market” equity offering program (the “ATM Program”). The timing and amount of any sales will be determined by a variety of factors considered by Clovis Oncology.

Shares of Clovis Oncology common stock will be offered through J.P. Morgan Securities LLC (“JPM”) and BofA Securities, Inc. (“BofA Securities”), who are serving as the distribution agents. JPM and BofA Securities may sell the shares of our common stock by any method deemed to be an “at-the-market offering” defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation, sales in ordinary brokers’ transactions, including directly on the Nasdaq Global Select Market or into any other existing trading market for the shares, or to or through a market maker, in block transactions or by any other method permitted by law, including negotiated transactions and to JPM and BofA Securities as principals for their own account. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices or at negotiated prices. As a result, sales prices may vary.

Clovis Oncology intends to use the net proceeds from any sales of its common stock under the ATM Program for general corporate purposes, including funding of its development programs, sales and marketing expenses associated with Rubraca® (rucaparib), repayment, repurchase or refinance of its debt obligations, payment of milestones pursuant to its license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Equity Offerings

Related Entities

JPMorgan, S3, Definitive Agreement, Equity Offerings