HIGH POINT, N.C. -- (Business Wire)
vTv Therapeutics Inc. (the “Company”) (Nasdaq:VTVT) announced today the
pricing of its initial public offering of 7,812,500 shares of its Class
A common stock at a price to the public of $15.00 per share. All of the
shares are being offered by the Company. In addition, the Company has
granted the underwriters an option to purchase up to an additional
1,171,875 shares of Class A common stock. The shares of Class A common
stock are expected to begin trading on the Nasdaq Global Market on July
30, 2015, under the symbol “VTVT.”
The Company intends to use the net proceeds of the offering to fund the
STEADFAST Study (its ongoing Phase 3 trial of azeliragon, a drug
candidate for the treatment of Alzheimer's disease), further clinical
development of its other drug candidates (including two drug candidates
for the treatment of type 2 diabetes that are in or commencing Phase 2
studies) and for working capital and other general corporate purposes.
Piper Jaffray & Co. and Stifel are acting as joint book-running managers
for the offering. In addition, Canaccord Genuity Inc. and Janney
Montgomery Scott LLC are acting as co-managers for the offering.
The offering is being made only by means of a prospectus. A copy of the
final prospectus related to the offering may be obtained, when
available, from Piper Jaffray & Co., Attention: Prospectus Department,
800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800)
747-3924, or by email at prospectus@pjc.com;
or Stifel, Nicolaus & Company, Incorporated, One Montgomery Street,
Suite 3700, San Francisco, CA 94104, Attention: Syndicate, by telephone
at (415) 364-2720 or by email at syndprospectus@stifel.com.
A registration statement relating to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission.
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 or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About vTv Therapeutics
vTv Therapeutics Inc. is a clinical-stage biopharmaceutical company
engaged in the discovery and development of orally administered small
molecule drug candidates to fill significant unmet medical needs. vTv
has a pipeline of clinical drug candidates led by programs for the
treatment of Alzheimer’s disease and type 2 diabetes as well as
treatment of inflammatory disorders and the prevention of muscle
weakness.
Forward-Looking Statements
This press release contains forward-looking statements. You should
not place undue reliance on those statements because they are subject to
numerous uncertainties and factors relating to the Company's operations
and business environment, all of which are difficult to predict and many
of which are beyond the Company's control. Forward-looking statements
include information concerning the Company's possible or assumed future
results of operations, including descriptions of the Company's business
strategy. These statements often include words such as “may,” “will,”
“should,” “believe,” “expect,” “anticipate,” “intend,” “plan,”
“estimate” or similar expressions. These statements are based on
assumptions that the Company has made in light of its experience in the
industry as well as its perceptions of historical trends, current
conditions, expected future developments and other factors it believes
are appropriate under the circumstances. Although the Company believes
that these forward-looking statements are based on reasonable
assumptions, we can give no assurance they will prove to be correct.Therefore,
you should be aware that many factors could affect the Company's actual
financial results or results of operations and could cause actual
results to differ materially from those in the forward-looking
statements. These factors are discussed in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results
of Operations” sections and elsewhere in the Company's registration
statement.
You should keep in mind that any forward-looking statement made by
the Company herein, or elsewhere, speaks only as of the date on which
made. New risks and uncertainties come up from time to time, and it is
impossible for the Company to predict these events or how they may
affect it. The Company has no obligation to update any forward-looking
statements after the date hereof, except as required by federal
securities laws.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150729006885/en/
Contacts:
Investors
The Trout Group
Marc Panoff, 646-378-2958
mpanoff@troutgroup.com
or
Media
BMC
Communications
Brad Miles, 646-513-3125
bmiles@bmccommunications.com
Source: vTv Therapeutics Inc.
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