deCODE genetics (Nasdaq:DCGN) today announced that it has obtained commitments
from several new and existing institutional investors to purchase $30 million
of its common stock. Under the terms of the transaction deCODE will sell
6 million shares at $5.00 per share. The aggregate net proceeds, after expenses,
are expected to be approximately $27.8 million. The transaction is subject
to certain customary closing conditions and is expected to close on or about
July 18. All of the shares of common stock are being offered by deCODE pursuant
to an effective registration statement previously filed with the Securities
and Exchange Commission. Lehman Brothers Inc. served as the lead placement
agent and Thomas Weisel Partners LLC served as co-placement agent.
This offering of shares of common stock may be made only by means of the
prospectus supplement and accompanying prospectus. Copies of the final prospectus
supplement and accompanying prospectus can be obtained from Lehman Brothers
Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island
Avenue, Edgewood, New York 11711, monica_castillo@adp.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 in which
such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state.
About deCODE
deCODE genetics (Nasdaq:DCGN) is a global leader in applying human genetics
to develop drugs for common diseases.
Any statements contained in this presentation that relate to future
plans, events or performance, including statements regarding the number
and price of shares of common stock we expect to sell and the expected
closing date of the offering, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results to differ materially from those described
in the forward-looking statements. These risks and uncertainties include,
among others, that the offering does not close or that there will be unanticipated
costs and expenses related to the offering as well as those relating to
technology and product development, integration of acquired businesses,
market acceptance, government regulation and regulatory approval processes,
intellectual property rights and litigation, dependence on collaborative
relationships, ability to obtain financing, competitive products, industry
trends and other risks identified in deCODE’s filings with the Securities
and Exchange Commission. deCODE undertakes no obligation to update or alter
these forward-looking statements as a result of new information, future
events or otherwise.
