SANTA CLARA, Calif.--(BUSINESS WIRE)--XenoPort, Inc. (NASDAQ: XNPT) announced today the pricing of an underwritten registered public offering of 12,000,000 shares of its common stock at a price to the public of $6.00 per share. The size of the offering was increased from the 10,000,000 shares previously announced. XenoPort has also granted to the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of its common stock. All of the shares in the offering are being offered by XenoPort. The offering is expected to close on or about January 29, 2014, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as co-managers.
A registration statement relating to the shares described above was previously filed with, and has been declared effective by, the Securities and Exchange Commission (SEC). A final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by telephone at (800) 221-1037, or by e-mail at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction 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.
XenoPort, Inc. is a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates for the potential treatment of neurological disorders.
This press release contains "forward-looking" statements, including, without limitation, all statements related to the offering. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "expected," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon XenoPort's current expectations. Forward-looking statements involve risks and uncertainties. XenoPort's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with market conditions, whether XenoPort will be able to consummate the offering and the satisfaction of closing conditions related to the offering. There can be no assurance that XenoPort will be able to complete the offering. Regardless of whether the offering is consummated, XenoPort will continue to need additional funding and may be unable to raise capital when needed, which would force XenoPort to delay, reduce or eliminate its product development programs or commercialization efforts. These and other risk factors related to XenoPort and its business are discussed under the heading "Risk Factors" in XenoPort's Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, filed with the SEC on November 8, 2013, and in the preliminary prospectus supplement related to the offering filed with the SEC on January 21, 2014. XenoPort expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.