SAVARA INC. (NASDAQ:SVRA) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On June2, 2017, Savara Inc. (the Company) entered into an
underwriting agreement (the Underwriting Agreement) with
Jefferies LLC, as representative of the several underwriters
named therein (the Underwriters), relating to the sale and
issuance of 8,421,053 shares (the Shares) of the Companys common
stock, par value $0.001 per share (the Common Stock). The
offering price to the public is $4.75 per share, and the
Underwriters have agreed to purchase the Shares from the Company
to the Underwriting Agreement at a price of $4.4175 per share.
Under the terms of the Underwriting Agreement, the Company also
granted the Underwriters an option, exercisable for 30 days, to
purchase up to an additional 1,263,157 shares of Common Stock at
the same price per share as the Shares.
The Company estimates that the net proceeds from the offering
will be approximately $36.9million, or approximately $42.5million
if the Underwriters option to purchase additional shares is
exercised in full.
The Shares will be issued to the Companys shelf registration
statement on Form S-3 (File No.333-202960). A prospectus
supplement relating to the offering will be filed with the SEC.
The offering is expected to close on June7, 2017, subject to the
satisfaction of customary closing conditions.
The foregoing description of the material terms of the
Underwriting Agreement does not purport to be complete and is
qualified in its entirety by reference to the Underwriting
Agreement, a copy of which is filed as Exhibit 1.1 to this
Current Report on Form 8-K and is incorporated herein
by reference.
| Item8.01. | Other Events. |
A copy of the
press release announcing the pricing of the public offering is
attached to this Current Report on Form8-K as Exhibit99.1
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 1.1 |
Underwriting Agreement, dated June2, 2017, by and between Savara Inc. and Jefferies LLC, as representative of the several underwriters named therein |
|
| 5.1 | Opinion of Wilson Sonsini Goodrich Rosati, P.C. | |
| 23.1 |
Consent of Wilson Sonsini Goodrich Rosati, P.C. (included in Exhibit 5.1) |
|
| 99.1 | Press Release of Savara Inc. dated June2, 2017 |
About SAVARA INC. (NASDAQ:SVRA)
Savara Inc., formerly Mast Therapeutics, Inc., is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of novel therapies for the treatment of patients with rare respiratory diseases. Its pipeline includes AeroVanc, Molgradex and AIR001. AeroVanc is an inhaled formulation of vancomycin, which the Company is developing for the treatment of persistent methicillin-resistant Staphylococcus aureus, lung infection in cystic fibrosis patients. Molgradex is an inhaled formulation of recombinant human granulocyte-macrophage colony-stimulating factor. It is developing Molgradex for the treatment of autoimmune pulmonary alveolar proteinosis, a rare lung disease. AIR001 is a sodium nitrite solution for inhalation via nebulization. AIR001 is in Phase II clinical development for the treatment of heart failure with preserved ejection fraction, also known as diastolic heart failure or heart failure with preserved systolic function. SAVARA INC. (NASDAQ:SVRA) Recent Trading Information
SAVARA INC. (NASDAQ:SVRA) closed its last trading session down -0.29 at 4.87 with 672,216 shares trading hands.