BOSTON, April 29, 2015 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK ), a pharmaceutical company focused on the development and commercialization of innovative, antibacterial therapies based upon tetracycline chemistry, today announced the pricing of its underwritten public offering of 2,860,000 shares of its common stock at a price to the public of $24.50 per share, before underwriting discounts and commissions. All of the shares of common stock to be sold in the offering will be sold by Paratek. In addition, Paratek has granted to the underwriters a 30-day option to purchase up to 429,000 additional shares of common stock.
Leerink Partners and Guggenheim Securities acted as joint book-running managers. Ladenburg Thalmann acted as lead manager. BTIG and Cantor Fitzgerald & Co. acted as co-managers.
Net proceeds to Paratek from the shares of common stock to be sold by Paratek in the offering are expected to be approximately $65.5 million, after deducting underwriting discounts and commissions and estimated offering expenses, but excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on May 5, 2015, subject to customary closing conditions.
The offering was made only by means of a prospectus and pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on April 27, 2015. Copies of the prospectus for this offering may be obtained, when available, by contacting Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, email: Syndicate@Leerink.com , phone: (800) 808-7525 ext. 6142; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Ave, 8th Floor, New York, NY 10017, email: GSEquityProspectusDelivery@guggenheimpartners.com , phone: (212) 518-9349; Ladenburg Thalmann & Co. Inc., 570 Lexington Avenue, 11th Floor, New York, NY 10022, email: prospectus@ladenburg.com ; BTIG, LLC, 825 3rd Ave, 6th FL, New York, NY 10022, email: USSyndicate@btig.com ; or Cantor Fitzgerald & Co., 499 Park Avenue, 5th Floor, New York, NY 10022 Attention: Capital Markets, email: Prospectus@Cantor.com .
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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Media Relations: Michael Lampe (484) 575-5040 Investor Relations: Hans Vitzthum LifeSci Advisors, LLC. (212) 915-2568
