ALX Oncology Announces Pricing of Upsized Public Offering of Common Stock
10 Dicembre 2020 - 4:25AM
ALX Oncology Holdings Inc. (“ALX Oncology”) (Nasdaq: ALXO), a
clinical-stage immuno-oncology company developing therapies to
block the CD47 checkpoint pathway, today announced the pricing of
an upsized underwritten public offering of 2,380,000 shares of its
common stock at a price of $76.00 per share. All of the shares of
common stock are being offered by ALX Oncology. The gross proceeds
to ALX Oncology from the offering, before deducting underwriting
discounts and commissions and other offering expenses payable by
ALX Oncology, are expected to be approximately $180.9 million,
excluding any exercise of the underwriters’ option to purchase
additional shares. The offering is expected to close on December
14, 2020, subject to the satisfaction of customary closing
conditions. In addition, ALX Oncology has granted the underwriters
a 30-day option to purchase up to an additional 357,000 shares of
its common stock at the public offering price, less the
underwriting discounts and commissions.
Jefferies, Credit Suisse, and Piper Sandler are acting as joint
book-running managers for the offering. Cantor and UBS Investment
Bank are also acting as book-running managers for the offering.
LifeSci Capital is acting as lead manager for the offering.
Registration statements relating to these securities became
effective on December 9, 2020. The offering is made only by means
of a prospectus, copies of which may be obtained from Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, by telephone at (877)
821-7388, or by email at prospectus_department@Jefferies.com;
Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by
telephone at (800) 221-1037, or by email
at usa.prospectus@credit-suisse.com; Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email
at prospectus@psc.com; Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Avenue, 6th Floor New York,
NY 10022, or by email at prospectus@cantor.com; or UBS
Securities LLC, Attention: Prospectus Department, 1285 Avenue of
the Americas, New York, NY 10019, by telephone at (888) 827-7275,
or by email at ol-prospectus-request@ubs.com. Copies of the final
prospectus, when available, related to the offering will be
available at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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.
About ALX Oncology
ALX Oncology is a publicly traded, clinical-stage
immuno-oncology company focused on helping patients fight cancer by
developing therapies that block the CD47 checkpoint pathway and
bridge the innate and adaptive immune system. ALX Oncology’s lead
product candidate, ALX148, is a next generation CD47 blocking
therapeutic that combines a high-affinity CD47 binding domain with
an inactivated, proprietary Fc domain. ALX148 has demonstrated
promising clinical responses across a range of hematologic and
solid malignancies in combination with a number of leading
anti-cancer agents. ALX Oncology intends to continue clinical
development of ALX148 for the treatment of a range of solid tumor
indications as well as MDS and AML.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended. Such forward-looking statements are based on ALX
Oncology’s beliefs and assumptions and on information currently
available to it on the date of this press release. Forward-looking
statements may involve known and unknown risks, uncertainties and
other factors that may cause ALX Oncology’s actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements. Such
forward-looking statements include, among other things, statements
regarding the timing, size and completion of the public offering of
common stock. The forward-looking statements contained herein
are based upon ALX Oncology’s current expectations and involve
assumptions that may never materialize or may prove to be
incorrect. Actual results could differ materially from those
projected in any forward-looking statements due to numerous risks
and uncertainties, including but not limited to risks and
uncertainties related to market conditions and satisfaction of
customary closing conditions related to the offering, and other
risks. These and other risks are described more fully in ALX
Oncology’s registration statement on Form S-1 filed with the U.S.
Securities and Exchange Commission (“SEC”) on December 7, 2020 and
the prospectus included therein, as well as ALX Oncology’s other
filings with the SEC from time to time, including its Quarterly
Report on Form 10-Q filed with the SEC on November 12, 2020. Except
to the extent required by law, ALX Oncology undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Investor Contact:Peter
GarciaChief Financial Officer, ALX Oncology(650) 466-7125 Ext.
113peter@alxoncology.com
Argot Partners(212)-600-1902alx@argotpartners.com
Media Contact:Karen SharmaMacDougall(781)
235-3060alx@macbiocom.com
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