Exhibit 99.2
Press Release
CONTACTS: | Tricia Haugeto |
| (303) 386-1193 |
| thaugeto@arraybiopharma.com |
Array BioPharma Announces Pricing of Public Offering of Common Stock
Boulder, Colo. (September 27, 2016) — Array BioPharma Inc. (Nasdaq: ARRY) announced today the pricing of an underwritten public offering of 18,400,000 shares of its common stock at a public offering price of $6.25 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and offering expenses, are expected to be approximately $115 million. The offering is expected to close on or about October 3, 2016, subject to customary closing conditions. Array also granted the underwriters a 30-day option to purchase up to 2,760,000 additional shares of common stock. All of the shares sold in the offering are being sold by Array.
Array intends to use the net proceeds to fund research and development efforts, including clinical trials for its proprietary candidates, build and scale commercial capability, and for general corporate purposes, including general working capital purposes.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Stifel and Wells Fargo Securities, LLC are acting as lead managers and SunTrust Robinson Humphrey, Inc. is acting as co-manager.
The shares are being offered by Array pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission (SEC). 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 preliminary prospectus supplement and the accompanying prospectus, and when available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 866-803-9204, or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York, 11717, Attn: Prospectus Department, telephone: 631-274-2806.
About Array BioPharma
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. Five registration studies are currently advancing related to three cancer drugs. These programs include binimetinib (MEK162), encorafenib (LGX818) and selumetinib (AstraZeneca).
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the completion, timing and size of the proposed public offering and Array’s intended use of proceeds. These statements involve significant risks and uncertainties, including those discussed in the preliminary prospectus supplement related to the offering and in our most recent annual report filed on Form 10-K, in our quarterly reports filed on Form 10-Q, and
