MOUNTAIN VIEW, Calif., April 6 /PRNewswire/ -- Aviron (Nasdaq: AVIR)
announced the pricing of a public offering of 2,000,000 shares of common
stock, at a price of $22.50 per share. In addition, the underwriters have
fully exercised their option to purchase 300,000 shares (100,000 from a
selling stockholder and 200,000 from the company) to cover over-allotments.
The underwriters for the offering are Morgan Stanley Dean Witter, Bear,
Stearns & Co. Inc. and U.S. Bancorp Piper Jaffray.
A registration statement relating to these securities was filed with and
declared effective by the U.S. Securities and Exchange Commission. Copies of
the prospectus relating to the public offering may be obtained by contacting
Morgan Stanley Dean Witter, 1585 Broadway, New York, NY 10036, 212-761-4000;
Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167, Attention:
Prospectus Department, 212-272-2000; or U.S. Bancorp Piper Jaffray, 222 South
Ninth Street, Minneapolis, MN 55402, 800-333-6000.
Concurrent with this public offering, American Home Products Corporation
(AHP) has agreed to purchase 686,160 shares of Aviron common stock at
$21.38 per share, the price equal to the net proceeds per share to the company
in the public offering.
Expected net proceeds to the company from both the offering and the AHP
transaction, after estimated expenses and underwriters' discounts and
commissions, will be approximately $60.7 million. The offering is expected to
close April 10.
Aviron is a biopharmaceutical company based in Mountain View, California,
focused on the prevention of disease through innovative vaccine technology.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy. There shall not be any sale of these
securities in any state in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
Actual results may differ materially from the forward-looking statements
contained in this release. Factors that could cause actual results to differ
include, but are not limited to, failure to validate the manufacturing
process, facilities or equipment for the company's nasal influenza vaccine,
and the assessment by regulatory agencies that the company's future license
applications for its nasal influenza vaccine are incomplete or inadequate to
approve the product for marketing to one or more target populations.
Additional information concerning factors that could cause such a difference
is contained in Aviron's SEC filings, including its S-3 Registration Statement
and Annual Report on Form 10-K for the year ended December 31, 1999.
SOURCE Aviron
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Related links:
http://www.aviron.com
Company News On-Call:
http://www.prnewswire.com/comp/114000.html or fax,
800-758-5804, ext. 114000
CONTACT:
media, John Bluth of Aviron, 650-919-3716; or
Claudette Hibbert of Fleishman-Hillard, 212-453-2000, for Aviron;
or investors, John Bluth, 650-919-3716, or Fred Kurland,
650-919-6666, both of Aviron
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