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Clovis completes public debt and stock offerings; nets $386mm

Executive Summary

Clovis Oncology Inc. (developing cancer drugs and companion diagnostics) netted $386mm through concurrent debt and stock offerings. In the first transaction, the company issued $300mm principal amount (net $292mm) of its 1.25% senior notes due 2025, which convert to common at a rate of 13.1278 shares per $1k (or $76.17 per share). Clovis also sold 1.8mm of its common shares at $54.41 for net proceeds of $94. Funds from both offerings will support ongoing corporate needs, including marketing expenses associated with Rubraca (rucaparib) for ovarian cancer in the US (and Europe, once approved).
Deal Industry
  • Biotechnology
    • Pharmacogenetics-Pharmacogenomics
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • FOPO

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