Oxford Immunotec Global PLC Announces Pricing of Underwritten Public Offering of Ordinary Shares
OXFORD, United Kingdom and MARLBOROUGH, Mass., Aug. 15, 2017 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD), a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of underserved immune-regulated conditions, today announced the pricing of its previously announced underwritten public offering of 2,500,000 ordinary shares pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on Form S-3. The aggregate gross proceeds to Oxford Immunotec, before deducting the underwriting discounts and commissions and offering expenses, will be $40.125 million. The offering is expected to close on or about August 18, 2017, subject to customary closing conditions. In addition, Oxford Immunotec has granted BTIG, LLC, the sole underwriter of the offering, an option to purchase up to 375,000 additional ordinary shares.
Oxford Immunotec intends to use the net proceeds from the offering for working capital and general corporate purposes.
BTIG, LLC is acting as sole underwriter for the offering. The securities described above are being offered by the Company pursuant to a registration statement previously filed with and declared effective by the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from: BTIG, LLC, Attention: Equity Capital Markets, 825 Third Avenue, 6th Floor, New York, NY 10022, or by telephone at (212) 593-7555, or by email at EquityCapitalMarkets@btig.com.
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 these securities 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 Oxford Immunotec
Oxford Immunotec Global PLC is a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of underserved immune-regulated conditions. The Company's first product is the T-SPOT®.TB test, which is used to test for tuberculosis infection. The T-SPOT.TB test has been approved for sale in over 50 countries, including the United States, where it has received pre-market approval from the Food and Drug Administration, Europe, where it has obtained a CE mark, as well as Japan and China. The Company's second product line is a range of assays for tick-borne diseases, such as Lyme disease, obtained through the acquisitions of Imugen and Immunetics. Also obtained through the acquisitions is the Company's third product line focused on screening for Babesia in donated blood, for which the Company is currently seeking FDA licensure. The T-SPOT.CMV test and the T-SPOT.PRT test are pipeline products as part of the Company's fourth intended product line focused on the transplantation market. In addition to these four product lines, the Company has additional active development programs in other immune-regulated conditions. The Company is headquartered near Oxford, U.K. and in Marlborough, Mass.
T-SPOT and the Oxford Immunotec logo are trademarks of Oxford Immunotec Ltd. Immunetics is a trademark of Immunetics, Inc.
This release contains forward-looking statements that involve risks and uncertainties, including statements about our anticipated plans, objectives, intentions, effects on future financial and operating results, prospects for sales of our products and other statements that are not historical facts. The forward-looking statements in this release are based on current expectations, assumptions and data available as of the date of this release and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including the risks described under the "Risk Factors" section in our filings with the Securities and Exchange Commission. Investors should give careful consideration to these risks and uncertainties. Forward-looking statements contained herein are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements contained herein, which speak only as of the date of this release. We do not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law.
For Media and Investor Inquiries:
Head of Strategy and Investor Relations
Tel: +1 (508) 556-1377
Tel: +1 (443) 213-0501
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Oxford Immunotec via Globenewswire
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