PALO ALTO, Calif.--(BUSINESS WIRE)-- Affymax, Inc. (Nasdaq:AFFY), today announced that it is offering, subject to market and other conditions, to sell shares of its common stock in an underwritten public offering. Affymax also expects to grant the underwriters a 30-day option to purchase additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by Affymax. Lazard Capital Markets LLC is acting as sole book-running manager in the offering, with Stifel, Nicolaus & Company, Incorporated acting as co-manager. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission and is effective. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov. When available, copies of the preliminary prospectus supplement relating to these securities may also be obtained from the offices of Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New York, NY, 10020 or via telephone at (800) 542-0970.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
About Affymax, Inc.
Affymax, Inc. is a biopharmaceutical company committed to developing novel drugs to improve the treatment of serious and often life-threatening conditions.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release contains forward-looking statements based upon Affymax's current expectations. Forward-looking statements include, but are not limited to, statements relating to Affymax's expectations regarding the completion, timing and size of the proposed public offering. Forward-looking statements involve risks and uncertainties. Affymax's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties related to market conditions and the satisfaction of customary closing conditions related to the proposed public offering. There can be no assurance that Affymax will be able to complete the proposed public offering at the anticipated size or on the anticipated terms, or at all. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Additional risks and uncertainties relating to the proposed offering, Affymax and its business can be found under the heading "Risk Factors" in Affymax's Annual Report on Form 10-K filed with the SEC on March 11, 2011, and in the preliminary prospectus supplement related to the proposed offering to be filed with the Securities and Exchange Commission on March 17, 2011. Affymax expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Sylvia Wheeler, 650-812-8861
Vice President, Corporate Communication
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Health Biotechnology Infectious Diseases Pharmaceutical