Amicus Therapeutics Inc. priced its underwritten offering of 19,354,839 common shares at $15.50 per share for expected gross proceeds of $300 million.
The New Jersey-based biotechnology company granted the underwriters a 30-day option to buy up to an additional 2,903,225 common shares.
Amicus expects to use the net proceeds to fund the U.S. and international commercial infrastructure for the Fabry disease treatment migalastat HCl and for investment in manufacturing capabilities for ATB200, its candidate to treat Pompe disease.
Proceeds will also go toward clinical development, research and development expenditures, clinical and pre-clinical trial expenditures, commercialization expenditures, and other general corporate purposes.
The company may also use the proceeds for working capital, capital expenditures, the funding of in-licensing agreements for product candidates, additional technologies or other forms of intellectual property, the acquisition of assets or businesses that are complementary to existing business, and general and administrative expenses.
The offering is expected to close Feb. 21, subject to customary closing conditions.
J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as joint lead book-running managers, Cowen and Leerink Partners LLC are acting as co-book-running managers, and Bank of America Merrill Lynch is acting as lead co-manager for the offering.