BOSTON, Feb. 3, 2015 (GLOBE NEWSWIRE) -- ZIOPHARM Oncology, Inc. (ZIOP) today announced that it has priced its previously announced underwritten public offering of common stock consisting of 10,000,000 shares at a public offering price of $8.75 per share. Gross proceeds to ZIOPHARM from this offering are expected to be approximately $87.5 million before deducting underwriting discounts and commissions and estimated offering expenses payable by ZIOPHARM. ZIOPHARM intends to use the net proceeds from the underwritten offering for general corporate and working capital purposes, including clinical development of its pipeline and development of technologies that it has licensed from The University of Texas M.D. Anderson Cancer Center.
J.P. Morgan Securities LLC is acting as sole book-running manager for the offering and BMO Capital Markets Corp. is acting as senior lead manager. Griffin Securities, Inc., Maxim Group LLC and Mizuho Securities USA Inc. are acting as co-managers for the offering. ZIOPHARM has granted the underwriters a 30-day option to purchase up to 1,500,000 additional shares of common stock. The offering is expected to close on or about February 9, 2015, subject to customary closing conditions.
The public offering is being made pursuant to an automatic shelf registration statement on Form S-3ASR previously filed with the Securities and Exchange Commission (the "SEC"), which became automatically effective upon filing. The offering will be made only by means of a prospectus supplement. The final prospectus supplement relating to the offering will be filed with the SEC. When available, copies of the final prospectus supplement and accompanying prospectus may be obtained at the SEC's website at www.sec.gov or from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204).
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