Arcturus Therapeutics Announces Closing of Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares
SAN DIEGO, July 31, 2020 (GLOBE NEWSWIRE) -- Arcturus Therapeutics Holdings Inc. (the “Company”, Nasdaq: ARCT), a leading clinical-stage messenger RNA medicines company focused on the development of infectious disease vaccines and significant opportunities within liver and respiratory rare diseases, announced the closing on July 31, 2020 of its previously announced underwritten public offering of 3,753,773 shares of its common stock at a public offering price of $53.00 per share, which included the exercise in full by the underwriters of their option to purchase up to an additional 489,622 shares of common stock at the public offering price, less underwriting discounts and commissions. Arcturus received total gross proceeds from the offering (before deducting the underwriting discounts and offering expenses) of approximately $200 million. The Company intends to use the net proceeds of the offering to develop, test and manufacture the Company’s LUNAR-COV19 vaccine candidate and to continue clinical development of LUNAR-OTC; to advance the Company’s LUNAR-CF, LUNAR-CV and LUNAR-FLU preclinical programs into clinical development; to fund early research and development of novel and proprietary RNA medicines; and for general corporate and working capital purposes.
Citigroup, Guggenheim Securities and Barclays acted as joint book-running managers for the offering. Baird, B. Riley FBR and H.C. Wainwright & Co. acted as co-lead managers for the offering. Ladenburg Thalmann acted as co-manager for the offering.
The securities described above were offered by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-238139) previously filed with the Securities and Exchange Commission (“SEC”) on May 8, 2020 and declared effective by the SEC on May 21, 2020.
A final prospectus supplement relating to the offering dated July 28, 2020 was filed with the SEC on July 30, 2020 and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue New York, NY 10017, by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Barclaysprospectus@broadridge.com, telephone: (888) 603-5847.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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