Summit Therapeutics plc Summit Therapeutics Announces Exercise Of Underwriters' Over-Allotment Option

 
TIDMSUMM 
 
 
   NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR 
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A 
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 
 
   Summit Therapeutics plc 
 
   ("Summit" or the "Company") 
 
   SUMMIT THERAPEUTICS ANNOUNCES EXERCISE OF UNDERWRITERS' OVER-ALLOTMENT 
OPTION 
 
   Oxford, UK, 15 September 2017 - Summit Therapeutics plc (NASDAQ: SMMT, 
AIM: SUMM), the drug discovery and development company advancing 
therapies for Duchenne muscular dystrophy and C. difficile infection, 
today announces that the underwriters of its underwritten public 
offering have exercised in full their over-allotment option to purchase 
an additional 218,850 American Depositary Shares ("ADSs") at the public 
offering price of $12.00 per ADS, less underwriting discounts and 
commissions.  After the over-allotment exercise, the total number of 
ADSs to be sold by Summit in this public offering will increase to 
1,677,850. The ADSs trade on the NASDAQ Global Market. Each ADS 
represents five ordinary shares of Summit. 
 
   Application is being made for 8,389,250 new ordinary shares in the 
Company, represented by the 1,677,850 ADSs to be issued at the closing 
of the offering, to be admitted to trading on the AIM market. It is 
expected that admission and dealing in these new ordinary shares will 
occur on or around 19 September 2017. The new ordinary shares will rank 
pari passu with the Company's existing ordinary shares. 
 
   Canaccord Genuity Inc. and JMP Securities LLC are acting as joint lead 
book-running managers for the offering. Needham & Company, LLC is acting 
as lead manager and H.C. Wainwright & Co., LLC is acting as co-manager. 
 
   The securities are being issued and sold pursuant to an effective shelf 
registration statement (including a base prospectus) that was previously 
filed with the Securities and Exchange Commission (the "SEC"). The final 
prospectus supplement relating to the offering was filed with the SEC on 
September 14, 2017 and is available on the SEC's website at www.sec.gov. 
Copies of the final prospectus supplement and the accompanying 
prospectus relating to the offering may be obtained by contacting 
Canaccord Genuity Inc., Attention: Syndicate Department, 99 High Street, 
12th Floor, Boston, Massachusetts 02110, telephone: [phone] or 
JMP Securities LLC, Prospectus Department, 600 Montgomery Street, 10th 
Floor, San Francisco, California 94111, telephone: [phone]. 
This press release is being issued pursuant to and in accordance with 
Rule 135e under the United States Securities Act of 1933, as amended 
(the "Securities Act"). 
 
   This press release does not constitute a prospectus and does not 
constitute or form part of any offer or invitation to sell or issue, or 
the solicitation of an offer to purchase or acquire, any of the ordinary 
shares or ADSs or any other securities in the United States of America 
or in any other jurisdiction. Securities may not be offered or sold in 
the United States of America absent registration or an exemption from 
registration under the Securities Act. Any public offering of securities 
to be made in the United States will be made by means of a prospectus. 
Such prospectus will contain or incorporate by reference detailed 
information about the issuer and its management and financial 
statements. In particular, and without limitation, no offer of 
securities to the public (as that term is understood in the EU 
Prospectus Directive) is being made in the United Kingdom or in any 
other country in the European Economic Area which has implemented the EU 
Prospectus Directive. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014 (MAR). 
 
   About Summit Therapeutics 
 
   Summit is a biopharmaceutical company focused on the discovery, 
development and commercialization of novel medicines for indications for 
which there are no existing or only inadequate therapies. Summit is 
conducting clinical programs focused on the genetic disease Duchenne 
muscular dystrophy and the infectious disease Clostridium difficile 
infection. 
 
   For more information, please contact: 
 
 
 
 
Summit 
Glyn Edwards / Richard Pye (UK office)        Tel: [phone] 
Erik Ostrowski / Michelle Avery (US office)            [phone] 
 
Cairn Financial Advisers LLP 
(Nominated Adviser) 
Liam Murray / Tony Rawlinson                  Tel: [phone] 
 
   Forward Looking Statements 
 
   Any statements in this press release about Summit's future expectations, 
plans and prospects, including but not limited to, statements about 
whether or not Summit will consummate the offering and the anticipated 
use of the proceeds from the offering, and other statements containing 
the words "anticipate," "believe," "continue," "could," "estimate," 
"expect," "intend," "may," "plan," "potential," "predict," "project," 
"should," "target," "would," and similar expressions, constitute forward 
looking statements within the meaning of The Private Securities 
Litigation Reform Act of 1995. Actual results may differ materially from 
those indicated by such forward-looking statements as a result of 
various important factors, including: market conditions, the 
satisfaction of customary closing conditions, the uncertainties inherent 
in the initiation of future clinical trials, availability and timing of 
data from on-going and future clinical trials and the results of such 
trials, whether preliminary results from a clinical trial will be 
predictive of the final results of that trial or whether results of 
early clinical trials or preclinical studies will be indicative of the 
results of later clinical trials, expectations for regulatory approvals, 
availability of funding sufficient for Summit's foreseeable and 
unforeseeable operating expenses and capital expenditure requirements 
and other factors discussed in the "Risk Factors" section of filings 
that Summit makes with the Securities and Exchange Commission, including 
Summit's Annual Report on Form 20-F for the fiscal year ended 31 January 
2017. Accordingly, readers should not place undue reliance on forward 
looking statements or information. In addition, any forward-looking 
statements included in this press release represent Summit's views only 
as of the date of this release and should not be relied upon as 
representing Summit's views as of any subsequent date. Summit 
specifically disclaims any obligation to update any forward-looking 
statements included in this press release. 
 
   -END- 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Summit Therapeutics plc via Globenewswire 
 
 
  http://www.summitplc.com/ 
 

(END) Dow Jones Newswires

September 15, 2017 13:29 ET (17:29 GMT)

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