LEXINGTON, Mass.--(BUSINESS WIRE)--Jan. 11, 2012--
Synta Pharmaceuticals Corp. (NASDAQ: SNTA) announced today the closing
of its underwritten public offering of 7,000,000 shares of common stock
at a public offering price of $4.40 per share. Net proceeds to Synta are
approximately $28.6 million, after deducting the underwriting discounts
and commissions and estimated offering expenses payable by Synta. Synta
has granted the underwriters a thirty (30) day option to purchase up to
1,050,000 additional shares to cover over-allotments, if any.
Jefferies & Company, Inc. acted as the sole book-running manager for the
offering, and Canaccord Genuity Inc. and Roth Capital Partners, LLC
acted as co-managers for the offering.
The securities described above were offered by Synta pursuant to a shelf
registration statement that was previously filed with and declared
effective by the Securities and Exchange Commission (SEC). This press
release does not constitute an offer to sell or a solicitation of an
offer to buy the securities in this offering, 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. A final prospectus supplement related to
the offering was filed with the SEC and is available on the SEC's
website located at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering may be obtained from Equity
Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison
Avenue, 12th Floor, New York, NY, 10022, by telephone at 877-547-6340,
or by email at Prospectus_Department@Jefferies.com.
About Synta Pharmaceuticals
Synta Pharmaceuticals Corp. is a biopharmaceutical company focused on
discovering, developing, and commercializing small molecule drugs to
extend and enhance the lives of patients with severe medical conditions,
including cancer and chronic inflammatory diseases. Synta has a unique
chemical compound library, an integrated discovery engine, and a diverse
pipeline of clinical- and preclinical-stage drug candidates with
distinct mechanisms of action and novel chemical structures. All Synta
drug candidates were invented by Synta scientists using our compound
library and discovery capabilities.
Safe Harbor Statement
This media release contains forward-looking statements about Synta
Pharmaceuticals Corp., including statements relating to the net proceeds
from the offering. Such statements are based on assumptions and subject
to risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements, including those described in "Risk Factors" of our Form 10-K
for the year ended December 31, 2010 as filed with the Securities and
Exchange Commission. Synta undertakes no obligation to publicly update
forward-looking statements, whether because of new information, future
events or otherwise, except as required by law.
Source: Synta Pharmaceuticals
Synta Pharmaceuticals Corp.
Rob Kloppenburg, 781-541-7125