Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) today announced the pricing of an underwritten public offering of 21,666,667 shares of its common stock at a public offering price of $3.00 per share. The gross proceeds to Spectrum from this offering are expected to be approximately $65 million, before deducting underwriting discounts, commissions and estimated offering expenses. In addition, Spectrum has granted the underwriters a 30-day option to purchase up to an additional 3,250,000 shares of common stock. The offering is expected to close on August 3, 2020, subject to customary closing conditions. All of the shares are being offered by Spectrum.

Spectrum intends to use the net proceeds from the offering for general corporate purposes, including, without limitation, the continued development of its pipeline assets, sales and marketing activities, pre-launch activities associated with ROLONTIS and potential business development initiatives.

Jefferies and Cantor Fitzgerald & Co. are acting as the joint book-running managers for this offering. JMP Securities is acting as the lead manager for this offering. B. Riley FBR and H.C. Wainwright & Co. are acting as co-managers for this offering.