Seagen Inc (SGEN)

[surf1944]

Seattle Genetics Announces Proposed Public Offering of Common Stock
Press Release
Source: Seattle Genetics, Inc.
On Monday August 10, 2009, 4:01 pm EDT

Companies:Seattle Genetics Inc.
BOTHELL, Wash.--(BUSINESS WIRE)--Seattle Genetics, Inc. (Nasdaq: SGEN - News) announced today that it is offering to sell, subject to market and other conditions, 9,000,000 shares of its common stock pursuant to an effective shelf registration statement in an underwritten public offering. Seattle Genetics also intends to grant the underwriters a 30-day option to purchase up to an aggregate of 1,350,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by Seattle Genetics. J.P. Morgan Securities Inc. and Goldman, Sachs & Co. are acting as joint book-running managers of the proposed offering.

A shelf registration statement relating to the shares was filed with the Securities and Exchange Commission and is effective. Information about the offering is available in the preliminary prospectus supplement to be filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting J.P. Morgan Securities Inc., Attention: Prospectus Department, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245 or by calling [phone] or Goldman, Sachs & Co., 85 Broad Street, SC Level, New York, New York 10004, Attention: Prospectus Department or by calling [phone].