WASHINGTON, March 14, 2018 /PRNewswire/ -- Vanda
Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced
that it intends to offer and sell shares of its common stock in an
underwritten public offering. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering. Vanda also expects to grant the underwriters a 30-day
option to purchase up to an additional 15% of the shares of common
stock offered in the public offering. All of the shares in the
offering are to be sold by Vanda, with net proceeds to be used for
commercial and research and development activities and other
general corporate purposes.
Citigroup, Jefferies and Stifel are acting as the joint
book-running managers for the offering.
A shelf registration statement on Form S-3 relating to the
public offering of the shares of common stock described above was
filed with the Securities and Exchange Commission (SEC) on
July 6, 2015 and declared effective
by the SEC on July 21, 2015. A
preliminary prospectus supplement relating to and describing the
terms of the offering will be filed with the SEC and will be
available on the SEC's web site at www.sec.gov. When available,
copies of the preliminary prospectus supplement relating to these
securities may also be obtained from: Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or telephone:
(800) 831-9146 or 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.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of securities of Vanda, nor
will there be any sale of these securities in any state or other
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 other jurisdiction.
About Vanda Pharmaceuticals Inc.
Vanda is a
global biopharmaceutical company focused on the development and
commercialization of innovative therapies to address high unmet
medical needs and improve the lives of patients.
Cautionary Statement Regarding Forward-Looking
Statements
This communication includes
forward-looking statements regarding events, trends and business
prospects, which may affect Vanda's future operating results and
financial position. Such statements, including, but not limited to,
those regarding statements about Vanda's expectations regarding its
fundraising efforts, including the successful completion of the
public offering, the anticipated use of proceeds from the public
offering and the underwriters' exercise of their option to purchase
additional shares, involve known and unknown risks that relate to
Vanda's future events or future financial performance and the
actual results could differ materially from those discussed in this
communication. Risks and uncertainties that may cause Vanda's
actual results to differ materially from those discussed in this
communication can be found in the "Risk Factors" section of Vanda's
Form 10-K, Forms 10-Q and its other filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of
the date hereof, and Vanda assumes no responsibility to update or
revise any forward-looking statements contained in this
communication to reflect events, trends or circumstances after the
date of this communication.
Company Contact:
Jim Kelly
Executive Vice President and Chief Financial Officer
Vanda Pharmaceuticals Inc.
(202) 734-3428
jim.kelly@vandapharma.com
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SOURCE Vanda Pharmaceuticals Inc.