January 06, 2011
MYSTIC, Conn. and DUBLIN, Jan. 6, 2011 /PRNewswire/ -- Amarin Corporation
plc (Nasdaq:AMRN - News) (the "Company"), a clinical-stage biopharmaceutical
company with a focus on cardiovascular disease, today announced the pricing
of an underwritten public offering of 12,000,000 American Depositary Shares
("ADSs") at a price to the public of $7.60 per ADS. The net proceeds to the
Company from this offering are expected to be approximately $87.1 million,
after deducting underwriting discounts and commissions and other estimated
offering expenses. The offering is expected to close on or about January 11,
2011, subject to customary closing conditions.
Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint
book-running managers in the offering, and Canaccord Genuity Inc. is acting
as co-lead manager for the offering. Amarin has granted the underwriters a
30-day option to purchase up to an aggregate of 1,800,000 additional ADSs
solely to cover over-allotments, if any. Amarin anticipates using the net
proceeds from the offering to prepare for the commercialization of AMR101,
its filing of a New Drug Application and for working capital and general
corporate purposes.
The securities described above are being offered by Amarin pursuant to a
shelf registration statement previously filed with and declared effective by
the Securities and Exchange Commission (the "SEC") on November 23, 2010. A
preliminary prospectus supplement related to the offering has been filed
Copies of the final prospectus supplement relating to these securities may
be obtained from Equity Syndicate Prospectus Department, Jefferies &
Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at
877-547-6340, and at
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. This news release
shall not constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the securities
laws of any such state or other jurisdiction.
