Deal Details

Follow-on Offering

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Summary

About

Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ:ICPT) recently completed an underwritten public offering of 2,760,000 shares of its common stock at a price to the public of $83.50 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 360,000 shares of common stock. Concurrent with the public offering of common stock, Intercept completed a private placement of 119,760 shares of its common stock to Samsara BioCapital, L.P., one of its existing stockholders, at a sale price equal to the price to the public in such offering. Intercept also completed an underwritten public offering of $230 million 2.00% convertible senior notes due 2026, which includes the exercise in full by the underwriters of their option to purchase an additional $30 million aggregate principal amount of the notes. Gross proceeds to Intercept from the public offerings and concurrent private placement were approximately $470.5 million. Intercept intends to use the net proceeds from the public offerings and concurrent private placement for working capital and general corporate purposes, which may include, among other things, funding launch preparation activities associated with the potential approval and commercialization of obeticholic acid for nonalcoholic steatohepatitis, the on-going commercialization of Ocaliva in primary biliary cholangitis and the continued advancement of Intercept’s clinical and research and development programs.

Intercept is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases, including primary biliary cholangitis (PBC) and nonalcoholic steatohepatitis (NASH). Intercept is headquartered in New York, New York.

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