ATHLONE, Ireland, June 22, 2016 (GLOBE NEWSWIRE) -- Innocoll Holdings plc (Nasdaq:INNL), a specialty pharmaceutical and medical device company with late stage development programs targeting areas of significant unmet medical need, today announced the closing of its previously announced underwritten public offering of 5,725,000 ordinary shares at a public offering price of $7.00 per ordinary share. In addition, Innocoll has granted the underwriters of the offering a 30-day option to purchase up to an additional 858,750 ordinary shares in connection with the offering to cover over-allotments.
Morgan Stanley acted as lead book-running manager, Piper Jaffray & Co. acted as joint book-running manager, Stifel acted as lead manager, and FBR and Janney Montgomery Scott acted as co-managers for the offering.
Before deducting underwriting discounts and commissions and offering expenses payable by us, the gross proceeds from the offering are approximately $40 million.
The offering was made only by means of a prospectus. A registration statement on Form F-3, as amended, relating to the securities was previously filed with the Securities and Exchange Commission (the "SEC") and declared effective on May 23, 2016. Information about the offering is available in the final prospectus supplement filed with the SEC on June 17, 2016. Copies of the final prospectus supplement and the accompanying base prospectus relating to this offering may also be obtained by contacting Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at (800) 747-3924, or by email at prospectus@pjc.com, or by accessing the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, 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 Innocoll Holdings plc
Innocoll is a global, commercial-stage specialty pharmaceutical and medical device company. The company's late stage product candidate pipeline is focused on addressing a number of large unmet medical needs, including: XARACOLL for the treatment of postoperative pain; INL-002, a gentamicin collagen topical matrix for the adjuvant treatment of diabetic foot infections; and INL-003, a barrier for the prevention of post-surgical adhesions.
For more information, please visit www.innocoll.com.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are generally statements that are not historical facts, and can be identified by the words "anticipate," "believe," "estimate," "expect," "intend," "goal," "may," "might," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions. Forward-looking statements are based on management's current plans, estimates, assumptions and projections, and speak only as of the date they are made. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors. These risks and uncertainties include, without limitation, the volatility of our stock price may prevent shares purchased in the offering from being resold at or above the price paid for them, purchasers of shares in the offering will suffer immediate and substantial dilution, we may use the proceeds from the offering in ways that may not enhance our operating results or the market price of our ordinary shares, and other risks and uncertainties which are discussed in more detail in our Annual Report on Form 20-F for the year ended December 31, 2015, filed on March 17, 2016, and our other reports filed with the SEC. We undertake no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law.