LEXINGTON, Mass.--(BUSINESS WIRE)--Nov. 13, 2013--
Synta Pharmaceuticals Corp. (NASDAQ: SNTA) announced today that it has
priced an underwritten public offering of 14,000,000 shares of its
common stock at a price to the public of $3.75 per share. Gross proceeds
to Synta are expected to be approximately $52.5 million, before
deducting the underwriting discounts and commissions and estimated
offering expenses payable by Synta. The offering is expected to close on
or about November 18, 2013, subject to satisfaction of customary closing
conditions. Synta has granted the underwriters a thirty (30) day option
to purchase up to 2,100,000 additional shares.
Jefferies LLC is acting as the sole book-running manager for the
offering, and JMP Securities, Brean Capital, LLC and Roth Capital
Partners are acting as co-managers for the offering.
The securities described above are being offered by Synta pursuant to a
shelf registration statement that was previously filed with and declared
effective by the Securities and Exchange Commission (SEC). This press
release does not constitute an offer to sell or a solicitation of an
offer to buy the securities in this offering, 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. A preliminary prospectus supplement related
to the offering was filed with the SEC and is available on the SEC's
website located at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering, when available, may be obtained,
by sending a request to: Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY,
10022, by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com.
About Synta Pharmaceuticals
Synta Pharmaceuticals Corp. is a biopharmaceutical company focused on
discovering, developing, and commercializing small molecule drugs to
extend and enhance the lives of patients with severe medical conditions,
including cancer and chronic inflammatory diseases. Synta has a unique
chemical compound library, an integrated discovery engine, and a diverse
pipeline of clinical- and preclinical-stage drug candidates with
distinct mechanisms of action and novel chemical structures. All Synta
drug candidates were invented by Synta scientists using our compound
library and discovery capabilities.
Safe Harbor Statement
This media release contains forward-looking statements about Synta
Pharmaceuticals Corp., including statements relating to the expected net
proceeds and anticipated closing of the offering. Such statements are
based on assumptions and subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements, including those described in
"Risk Factors" of the final prospectus supplement related to the
offering, as filed with the Securities and Exchange Commission. Synta
undertakes no obligation to publicly update forward-looking statements,
whether because of new information, future events or otherwise, except
as required by law.
Source: Synta Pharmaceuticals Corp.
Synta Pharmaceuticals Corp.
George Farmer, 781-541-7213
Andrea Rabney, 212-600-1494