AVEO Oncology (AVEO) Prices 6M Share Common Offering at $8/Sh

AVEO Oncology (NASDAQ: AVEO) today announced that it has priced its previously announced underwritten public offering of 6,000,000 shares of its common stock at a price to the public of $8.00 per share. The gross proceeds to AVEO from the offering are expected to be $48.0 million before deducting underwriting discounts and commissions and offering expenses. All of the shares in the offering are being sold by AVEO. AVEO has also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock on the same terms and conditions. Closing of the offering is expected to occur on or about March 26, 2021, subject to satisfaction of customary closing conditions.

The net proceeds of the offering are expected to be used for working capital and general corporate purposes, including to support commercialization activities relating to FOTIVDA® (tivozanib) and to advance AVEO’s pipeline.

SVB Leerink and Stifel are acting as joint bookrunning managers for the offering. Baird is acting as lead manager for the offering. H.C. Wainwright & Co. and JonesTrading are acting as co-managers for the offering.

The shares are being offered by AVEO pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission (“SEC”) on November 9, 2020 and declared effective by the SEC on November 18, 2020. A preliminary prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov.

Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, can be obtained from SVB Leerink LLC

You May Also Be Interested In

• MicroVision prices $17 million public offering at $2.50 per unit
• MicroVision launches public offering of shares and warrants
• Campbell Soup (CPB) files mixed shelf