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CST: 19/08/2019 11:15:06   

Aptevo Announces Pricing of $22 Million Offering of Common Stock and Warrants

165 Days ago

SEATTLE, March 07, 2019 (GLOBE NEWSWIRE) -- Aptevo Therapeutics Inc. (Nasdaq: APVO), a biotechnology company focused on developing novel oncology, autoimmune and hematology therapeutics, today announced the pricing of (i) for a combined public offering price of $1.00 per share of common stock and related warrants, 19,850,000 shares of common stock and related warrants to purchase up to 19,850,000 shares of common stock at an exercise price of $1.30 per share, and (ii) for a combined public offering price of $0.99 per pre-funded warrant and related warrant, pre-funded warrants to purchase up to 2,150,000 shares of common stock at an exercise price of $0.01 per share and related warrants to purchase up to 2,150,000 shares of common stock at an exercise price of $1.30 per share.  All of the securities to be sold in the offering will be offered by Aptevo.  The gross proceeds from this offering to Aptevo are expected to be approximately $22.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Aptevo, and excluding the exercise of any warrants. The offering is expected to close on or about March 11, 2019, subject to customary closing conditions.

Piper Jaffray is acting as sole manager for the offering.

A shelf registration statement relating to the shares of common stock and warrants to purchase common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on December 15, 2017.  The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.  A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov.  Copies of the final prospectus supplement and the accompanying prospectus, when available, may also be obtained by Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@pjc.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Forward-Looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, relating to Aptevo’s expectations regarding the closing of the public offering. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks and uncertainties related to the satisfaction of customary closing conditions related to the public offering. More information about the risks and uncertainties faced by Aptevo is contained in the section captioned “Risk Factors” in the preliminary prospectus supplement related to the public offering to be filed with the SEC. Aptevo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Stacey Jurchison, Sr. Director, Investor Relations and Corporate Communications
Phone:  206-859-6628
E-mail:  JurchisonS@apvo.com

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