RESEARCH TRIANGLE PARK, N.C., April 20, 2015 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (Nasdaq: SCYX ) today announced the commencement of an underwritten public offering of shares of its common stock and expects to raise gross proceeds of up to $30 million. The company expects to grant the underwriter a 30-day option to purchase up to an additional $4.5 million of shares of its common stock in connection with the offering. All of the shares of common stock in the offering will be sold by SCYNEXIS.
RBC Capital Markets and Canaccord Genuity are serving as joint bookrunning managers on the transaction. In addition, JMP Securities is participating as lead manager, and Needham & Company is participating as co-manager in the offering. The offering of SCYNEXIS common stock will be made only by means of a prospectus. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.
A copy of the preliminary prospectus relating to the offering may be obtained on the SEC EDGAR Filings Website: http://www.sec.gov/ . You may obtain more information by contacting RBC Capital Markets, Attention: Prospectus Department, Brookfield Place, 200 Vesey Street 8th Floor, New York, NY 10281, telephone (877) 822-4089 or Canaccord Genuity Inc., Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, telephone (617) 371-3900.
About SCYNEXIS
SCYNEXIS is a pharmaceutical company committed to the discovery, development and commercialization of novel anti-infectives to address significant unmet therapeutic needs. We are developing our lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. For more information, visit www.scynexis.com .
Forward-Looking Statements
This announcement contains forward-looking statements, including statements relating to SCYNEXIS's expectations regarding the completion and size of the proposed public offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. SCYNEXIS cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that SCYNEXIS will be able to complete the public offering on the anticipated terms, or at all. Risks and uncertainties relating to SCYNEXIS and its business can be found in the "Risk Factors" section of SCYNEXIS's Form 10-K, filed with the SEC on March 30, 2015, and in the preliminary prospectus contained in the registration statement related to the proposed offering filed with the SEC on April 20, 2015. SCYNEXIS undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in SCYNEXIS's expectations.
Media Relations Heather Savelle MacDougall Biomedical Communications Tel: 336.671.6546 Investor Relations Jillian Connell The Trout Group LLC Tel: 646.378.2956 SCYNEXIS, Inc. Chuck Osborne Chief Financial Officer Tel: 919.544.5600
