Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) Files An 8-K Other EventsItem 8.01 Other Events.
On September12, 2017, Portola Pharmaceuticals, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley& Co. LLC, Citigroup Global Markets Inc. and Goldman Sachs& Co. LLC, representatives of the several underwriters (the “Underwriters”) relating to the offering, issuance and sale (the “Offering”) of 6,350,000 shares of the Company’s common stock, par value $0.001 per share. to the Underwriting Agreement, the Underwriters have agreed to purchase the shares of common stock from the Company at a price of $52.1125 per share, which will result in approximately $330.1 million of net proceeds to the Company after deducting estimated offering expenses. The offering is expected to close on or about September15, 2017, subject to customary closing conditions. The shares of common stock will be listed on The NASDAQ Global Select Market. The Underwriters have a 30-day option to purchase up to an additional 952,500 shares of common stock. All of the shares in the offering are being sold by the Company.
The Offering is being made to the Company’s effective shelf registration statement on Form S-3 (Registration No.333-207901) previously filed with the Securities and Exchange Commission (the “SEC”). The Company has filed a final prospectus supplement, dated September12, 2017, relating to the issuance and sale of the shares with the SEC.
The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement and may be subject to limitations agreed upon by the contracting parties.
The Underwriting Agreement is filed as Exhibit 1.1 hereto and is incorporated herein by reference. The foregoing description of the terms of the Underwriting Agreement is qualified in its entirety by reference to such exhibit. A copy of the opinion of Cooley LLP relating to the legality of the issuance and sale of the shares in the offering is attached as Exhibit 5.1 hereto.
Item 8.01 Financial Statements and Exhibits.
PORTOLA PHARMACEUTICALS INC ExhibitEX-1.1 2 d454384dex11.htm EX-1.1 EX-1.1 Exhibit 1.1 6,…To view the full exhibit click
About Portola Pharmaceuticals, Inc. (NASDAQ:PTLA)
Portola Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics in the areas of thrombosis, other hematologic disorders and inflammation for patients who have limited or no approved treatment options. The Company’s two lead programs, Betrixaban and Andexanet alfa, address unmet medical needs in the area of thrombosis, or blood clots. Its third product candidate is Cerdulatinib. The Company’s Syk is a mediator of immune response in various types of immune cells. The Company has a program of highly selective Syk inhibitors, one of which is partnered with Ora Inc. Its Betrixaban is an oral once-daily inhibitor of Factor Xa. Its Andexanet alfa, is an orphan drug, which is a recombinant protein designed to reverse anticoagulant activity in patients treated with an fXa inhibitor. The Company is developing orally available kinase inhibitors to treat hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) Recent Trading Information
Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) closed its last trading session down -1.96 at 55.00 with 4,567,414 shares trading hands.