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Clovis Oncology Announces Pricing of Public Offering of Common Stock

Clovis Oncology, Inc. (NASDAQ:CLVS) announced today the pricing of 11,090,000 shares of its common stock in an underwritten public offering at a price to the public of $8.05 per share, before underwriting discounts and commissions. Clovis Oncology also granted to the underwriters a 30-day option to purchase up to an additional 1,663,500 shares of its common stock on the same terms and conditions.


The offering is expected to close on May 21, 2020, subject to customary closing conditions. J. P. Morgan Securities LLC and BofA Securities are acting as joint book-running managers for this offering.


Clovis Oncology intends to use the net proceeds of this offering for general corporate purposes, including repayment, repurchase or refinance of its debt obligations, sales and marketing expenses associated with Rubraca (rucaparib), funding of its development programs, payment of milestones pursuant to its license agreements, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital.


The common stock is being offered pursuant to an effective shelf registration statement that Clovis Oncology has filed with the Securities and Exchange Commission ("SECa??). Before you invest, you should read the prospectus in that registration statement and other documents Clovis Oncology has filed with the SEC for more complete information about Clovis Oncology and this offering. The offering is being made only by means of a prospectus supplement and the related prospectus. Copies of the prospectus supplement and related prospectus may be obtained from J. P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email to prospectus-eq_fi@jpmchase.com, or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by calling 1-800-294-1322 or by email to dg.prospectus_requests@bofa.com. You may also obtain these documents free of charge when they are available by visiting EDGAR on the SECa??s website at www.sec.gov.


This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will 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.
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