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PhaseBio Launches Roadshow for Initial Public Offering
MALVERN, Pa. and SAN DIEGO, Oct. 08, 2018 (GLOBE NEWSWIRE) -- PhaseBio Pharmaceuticals, Inc. (“PhaseBio”), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for orphan diseases, with an initial focus on cardiopulmonary disorders, today announced that it has launched the roadshow for the initial public offering of its common stock. PhaseBio is offering 5,000,000 shares of its common stock at an expected initial public offering price between $12.00 and $14.00 per share. PhaseBio expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the initial public offering price to cover over-allotments. PhaseBio has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “PHAS.”
Citigroup, Cowen and Stifel are acting as joint book-running managers for the offering. Needham & Company, LLC is acting as co-manager for the offering.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 1-631-274-2806, or fax: 1-631-254-7140.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
This press release contains certain forward-looking statements, including statements with regard to PhaseBio’s proposed securities offering. Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed securities offering discussed above will be consummated on the terms described or at all. Completion of the proposed securities offering and the terms thereof are subject to numerous factors, many of which are beyond the control of PhaseBio, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in PhaseBio’s filings with the Securities and Exchange Commission. PhaseBio undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
PhaseBio Pharmaceuticals, Inc.
Chief Financial Officer
Sarah Hall, 6 Degrees