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Ovid Therapeutics Announces Proposed Concurrent Public Offerings of Common Stock and Preferred Stock
NEW YORK, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"NEW YORK, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of patients with rare neurological diseases, today announced that it intends to offer and sell shares of its common stock and Series A convertible preferred stock (the “Series A preferred stock”) in two concurrent but separate underwritten public offerings. Neither of the proposed common stock offering or the Series A preferred stock offering (together, the “Offerings”) are contingent upon the consummation of the other. The Offerings are subject to market and other conditions, and there can be no assurance as to whether or when the Offerings may be completed, or the actual size or terms of the Offerings.\n Cowen and William Blair are acting as joint book-running managers for the Offerings. Ovid Therapeutics expects to grant the underwriters a 30-day option to purchase additional shares of common stock in the proposed common stock offering of up to 15% of the aggregate number of shares offered in the common stock offering. Ovid Therapeutics intends to use the net proceeds from the Offerings primarily to advance the clinical development of its OV101 and OV935 programs and the remainder of the net proceeds for working capital and general corporate purposes. The securities described above are being offered by Ovid Therapeutics pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”) dated June 19, 2018. Preliminary prospectus supplements relating to the Offerings will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the preliminary and final prospectus supplements relating to the Offerings may be obtained, when available, by contacting Cowen at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York, 11717, Attention: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926; or William Blair at 150 North Riverside Plaza, Chicago, Illinois 60606, Attention: Prospectus Department, by telephone at 800-621-0687 or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there b...