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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Mirati Therapeutics Inc    MRTX

MIRATI THERAPEUTICS INC

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MIRATI THERAPEUTICS, INC. : Other Events, Financial Statements and Exhibits (form 8-K)

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06/25/2019 | 04:07pm EDT

Item 8.01 Other Events.

On June 24, 2019, Mirati Therapeutics, Inc. ("we," "Mirati" or the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Cowen and Company, LLC, Credit Suisse Securities (USA) LLC and Barclays Capital Inc., as representatives of the several underwriters named therein (the "Underwriters"), pursuant to which we agreed to issue and sell an aggregate of 2,100,000 shares of our common stock, par value $0.001 per share (the "Shares"). The Shares will be sold at a public offering price of $97.00 per Share. The offering is scheduled to close on or about June 27, 2019, subject to customary closing conditions. Under the terms of the Underwriting Agreement, we also granted the Underwriters an option, exercisable for 30 days, to purchase up to an additional 315,000 shares of our common stock.

We estimate that gross proceeds we will receive from the offering will be approximately $203.7 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by us, and assuming no exercise of the option to purchase additional shares.

The Underwriting Agreement contains customary representations, warranties and agreements by us, customary conditions to closing, indemnification obligations of us and the Underwriters, including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the contracting parties.

The offering was made pursuant to our registration statement on Form S-3ASR (Registration Statement No. 333-227209) which became automatically effective upon filing with the Securities and Exchange Commission (the "SEC") on September 6, 2018, and a prospectus supplement thereunder. The Underwriting Agreement is filed as Exhibit 1.1 to this report and the description of the terms of the Underwriting Agreement is qualified in its entirety by reference to such exhibit. A copy of the opinion of Cooley LLP relating to the legality of the issuance and sale of the securities in the offering is attached as Exhibit 5.1 hereto.

On June 24, 2019, we issued a press release announcing that we had commenced the offering. On June 25, 2019, we issued a press release announcing that we had priced the offering. Copies of these press releases are attached as Exhibits 99.1 and 99.2 hereto, respectively.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits



       Exhibit No.   Description

        1.1            Underwriting Agreement, dated June 24, 2019.

        5.1            Opinion of Cooley LLP.

       23.1            Consent of Cooley LLP (included in Exhibit 5.1).

       99.1            Press release, dated June 24, 2019.

       99.2            Press release, dated June 25, 2019.

Forward-Looking Statements

This report contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this report that are not historical facts may be considered "forward-looking statements," including, but not limited to, statements regarding Mirati's expectations with respect

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to the completion, timing and size of its public offering. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology. Forward-looking statements are based on current expectations of management and upon what management believes to be reasonable assumptions based on information currently available to it, and are subject to risks and uncertainties. Such risks and uncertainties may cause actual results to differ materially from the expectations set forth in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks associated with market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities, as well as other risks detailed in our recent filings on Forms 10-K and 10-Q with SEC. We undertake no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

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© Edgar Online, source Glimpses

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