GAINESVILLE, Fla., Aug. 4, 2014 (GLOBE NEWSWIRE) -- Applied Genetic Technologies Corporation (Nasdaq: AGTC ) announced today the closing on July 30, 2014 of its public offering of 2,000,000 shares of its common stock at a price to the public of $15.00 per share, before underwriting discounts, and the exercise in full by the underwriters of their option to purchase 300,000 additional shares of common stock at $15.00 per share, which closed on August 1, 2014. AGTC offered all of the shares of common stock. The company plans to use the net proceeds from the offering to fund preclinical investigation and Phase 1/2 trials of potential product candidates for treatment of wet AMD, to expand its manufacturing capabilities and create a pilot manufacturing group, to in-license, acquire or invest in complementary gene therapy, technologies, products or assets, and for working capital and other general corporate purposes.
BMO Capital Markets, Stifel and Wedbush PacGrow Life Sciences acted as the book-running managers for the offering and Cantor Fitzgerald & Co. and Roth Capital Partners acted as co-managers.
The Securities and Exchange Commission declared effective a registration statement relating to these securities on July 24, 2014. The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from BMO Capital Markets Corp., 3 Times Square, New York, NY 10036, Attention: Equity Syndicate Department, Telephone: (800) 414-3627, Email: bmoprospectus@bmo.com; from Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Dept., One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720 or by email at syndprospectus@stifel.com; or from Wedbush Securities Inc., Two Embarcadero Center, Suite 600, San Francisco, CA 94111, Attn: ECM Prospectus Department, by calling 415-274-6819 or by email at vinnie.devone@wedbush.com .
This press release shall not constitute an offer to sell or a 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 AGTC
AGTC is a clinical-stage biotechnology company that uses its proprietary gene therapy platform to develop products designed to transform the lives of patients with severe inherited orphan diseases in ophthalmology. AGTC's lead product candidates, which are each in the preclinical stage, focus on X-linked retinoschisis, achromatopsia and X-linked retinitis pigmentosa, which are rare diseases of the eye, caused by mutations in single genes, that significantly affect visual function and currently lack effective medical treatments.
David Carey Lazar Partners Ltd. T: (212) 867-1768 Corporate Contact: Larry Bullock Chief Financial Officer Applied Genetic Technologies Corporation T: (386) 462-2204
