NovoCure Limited Announces Closing of Initial Public Offering

ST. HELIER, Jersey--()--NovoCure Limited (NASDAQ: NVCR), a commercial stage oncology company pioneering a novel therapy for solid tumors, announced today the closing of its initial public offering of 7,500,000 ordinary shares at a price to the public of $22 per share. In addition, the underwriters for the offering have a 30-day option, commencing on October 1, 2015, to purchase up to an additional 1,125,000 ordinary shares. The shares began trading on the NASDAQ Global Select Market on October 2, 2015 under the symbol “NVCR.”

NovoCure Limited received net proceeds of approximately $150.5 million from the offering, after deducting the underwriters’ discount and estimated offering expenses, which it intends to use for working capital and general corporate purposes, including clinical trials and research and development and continued commercialization of Optune and its future delivery systems.

J.P. Morgan Securities LLC, Deutsche Bank Securities and Evercore Group L.L.C. are acting as joint book-running managers for the offering. Wells Fargo Securities, LLC is acting as lead manager and JMP Securities LLC and Wedbush PacGrow are acting as co-managers. Perella Weinberg Partners LP is acting as independent capital markets advisor to NovoCure Limited for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from:

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Ave., Edgewood, NY 11717
Telephone: 1 (866) 803-9204

Deutsche Bank Securities Inc.
Attention: Prospectus Group
60 Wall Street
New York, NY 10005
Email: prospectus.cpdg@db.com
Telephone: 1 (800) 503-4611

Evercore Group L.L.C.
Attention: Equity Capital Markets
55 East 52nd Street
New York, NY 10055
Telephone: 1 (888) 387-2673

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NovoCure Limited

NovoCure Limited is a Jersey Isle oncology company pioneering a novel therapy for solid tumors called TTFields. Novocure’s US operations are based in Portsmouth, NH and New York, NY. Additionally, the company has offices in Germany, Switzerland, and Japan and a research center in Haifa, Israel. For additional information about the company, please visit www.novocure.com or follow us at www.twitter.com/novocure.

Forward-Looking Statements

Certain statements contained in this release that are not historical information contain forward-looking statements. The forward-looking statements involve risks and uncertainties and actual results may differ materially from those projected or implied. Further, certain forward-looking statements are based on assumptions of future events which may not prove to be accurate. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or, in each case, their negative, or other variations or comparable terminology. NovoCure Limited derives many of its forward-looking statements from its operating budgets and forecasts, which are based upon many detailed assumptions. While NovoCure Limited believes that its assumptions are reasonable, it is difficult to predict the impact of known factors and, of course, it is impossible to anticipate all factors that could affect actual results. These factors are discussed in the “Risk factors,” “Cautionary note regarding forward-looking statements,” “Management’s discussion and analysis of financial condition and results of operations,” and “Our business” sections and elsewhere in NovoCure Limited’s registration statement.

You should keep in mind that any forward-looking statement made by NovoCure Limited herein, or elsewhere, speaks only as of the date on which made. New risks and uncertainties come up from time to time, and it is impossible for NovoCure Limited to predict these events or how they may affect it. NovoCure Limited has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

Contacts

Media and Investor Contact:
Novocure
Ashley Cordova, 212-767-7558
acordova@novocure.com

Release Summary

NovoCure Limited announced today the closing of its initial public offering of 7,500,000 ordinary shares at a price to the public of $22 per share.

Contacts

Media and Investor Contact:
Novocure
Ashley Cordova, 212-767-7558
acordova@novocure.com