|[November 04, 2013]
Tetraphase Pharmaceuticals Announces Proposed Offering of Common Stock
WATERTOWN, Mass. --(Business Wire)--
Pharmaceuticals, Inc. (NASDAQ:TTPH) today announced it has commenced
an underwritten public offering of 3,300,000 shares of its common stock.
All of the shares of the common stock to be sold in the offering will be
offered by Tetraphase.
Tetraphase intends to use the net proceeds of the offering to fund the
ongoing clinical development of eravacycline, including the potential
submission of a new drug application for eravacycline with the FDA, and
for working capital and other general corporate purposes.
BMO Capital Markets and Stifel are acting as joint book-running
managers. Guggenheim Securities, JMP Securities (News - Alert), and Needham & Company
are acting as co-managers. Tetraphase intends to grant the underwriters
a 30-day option to purchase up to an additional 15 percent of the number
of shares sold in the offering, if any. The offering is subject to
market conditions, and there can be no assurance as to whether or when
the offering may be completed, or as to the actual size or terms of the
The offering will be made only by means of a prospectus. Copies of the
preliminary prospectus relating to the offering may be obtained for free
by visiting EDGAR on the U.S. Securities and Exchange Commission (SEC (News - Alert))
website at www.sec.gov.
Copies of th preliminary prospectus may also be obtained by contacting
BMO Capital Markets Corp. at 3 Times Square, 27th Floor, New York, NY
10036, Attention: Equity Syndicate Department, by telephone at (800)
414-3627 or by email to firstname.lastname@example.org
or by contacting Stifel, Nicolaus & Company, Incorporated, Attention:
Syndicate, One Montgomery Street, Suite 3700, San Francisco, California
94104, or by calling (415) 364-2500.
A registration statement relating to these securities has been filed
with the SEC, 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 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.
About Tetraphase Pharmaceuticals, Inc.
Tetraphase is a clinical-stage biopharmaceutical company using its
proprietary chemistry technology to create novel antibiotics for serious
and life-threatening multidrug-resistant bacterial infections.
Tetraphase's lead product candidate, eravacycline, is a fully synthetic
tetracycline derivative being developed as a broad-spectrum intravenous
and oral antibiotic for use as a first-line empiric monotherapy for the
treatment of multidrug-resistant infections, including MDR Gram-negative
Statements contained in this press release about Tetraphase that are not
purely historical, and all other statements that are not purely
historical, may be deemed to be forward-looking statements for purposes
of the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. The words "anticipates," "believes," "estimates,"
"expects," "intends," "may," "plans," "projects," "will," "would" and
similar expression are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying
words. These forward-looking statements involve known and unknown risks
and uncertainties that may cause Tetraphase's actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements Tetraphase makes.
Important factors that may cause or contribute to such differences
include whether or not Tetraphase will offer the shares or consummate
the offering at all or on the anticipated terms of the offering,
fluctuations in Tetraphase's stock price, the anticipated use of the
proceeds of the offering, Tetraphase's ability to satisfy customary
closing conditions related to the proposed offering, and such other
factors as are set forth in the risk factors detailed from time to time
in Tetraphase's periodic reports and registration statements filed with
the SEC including, without limitation, the risk factors detailed in
Tetraphase's Quarterly Report on Form 10-Q filed on August 12, 2013, and
the preliminary prospectus Tetraphase filed with the SEC on November 4,
2013 under the heading "Risk Factors." You should not place undue
reliance on these forward-looking statements. In addition, any
forward-looking statements represent Tetraphase's views only as of today
and should not be relied upon as representing Tetraphase's views as of
any subsequent date. Tetraphase disclaims any obligation to update any
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