Idera Pharmaceuticals,Inc. (NASDAQ:IDRA) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On October25, 2017,Idera Pharmaceuticals,Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, Goldman Sachs& Co. LLC and Barclays Capital Inc. as representatives of the several underwriters (collectively, the “Underwriters”), relating to an underwritten public offering of 33,333,334 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”). The public offering price for the Common Stock is $1.50 per share. The Underwriters have agreed to purchase the shares to the Underwriting Agreement at a price of $1.41 per share. The Company has also granted to the Underwriters a 30-day option to purchase up to an additional 5,000,000 shares of Common Stock at the same price per share. All of the shares in the offering are to be sold by the Company.
The Common Stock will be issued to a prospectus supplement dated October25, 2017 and an accompanying base prospectus dated September 8, 2017 that form a part of the registration statement on FormS-3 that the Company filed with the Securities and Exchange Commission, which became effective September8, 2017 (File No.333-219851). The Company expects that the closing of the sale of the Common Stock will take place on October30, 2017, subject to the satisfaction of customary closing conditions.
A copy of the Underwriting Agreement is attached as Exhibit1.1 hereto and is incorporated herein by reference. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to Exhibit1.1.
A copy of the legal opinion and consent of Wilmer Cutler Pickering Hale and Dorr LLP relating to the validity of the Common Stock to be issued in the offering is attached as Exhibit5.1 hereto.
Item 8.01. Other Events.
The Company issued a press release on October26, 2017 announcing the pricing of the sale of the Common Stock. The full text of the press release is attached as Exhibit99.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.