BOULDER — Clovis Oncology Inc. (Nasdaq: CLVS) has announced two separate public offerings of stock and convertible senior notes.
The company intends to offer $200 million in convertible senior notes due in 2025 in an underwritten registered public offering, the company said in a press release. Clovis intends to grant the underwriters a 30-day option to purchase up to an additional $30 million of the notes under the same terms and conditions.
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Separately, Clovis intends to offer $100 million shares of its common stock, granting the underwriters a 30-day option for an additional $15 million in shares.
Clovis “intends to use the combined net proceeds of the offerings for general corporate purposes, including sales and marketing expenses associated with Rubraca (rucaparib) in the United States and, if approved by the European Commission, in Europe, funding of its development programs, general and administrative expenses, acquisition or licensing of additional product candidates or businesses and working capital,” the company said.
J. P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for each of the offerings.