On July 27, 2020, Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (TSX:AUP) (Aurinia or the Company) closed its underwritten public offering of 13,333,334 common shares (the Offering). The shares were sold at a public offering price of US$15.00 per share. The gross offering proceeds to the Company from this Offering are approximately US$200 million, before deducting underwriting discounts and commissions and other offering expenses.
Jefferies and SVB Leerink acted as joint book-running managers for the Offering. Cantor acted as lead manager and Oppenheimer & Co. and H.C. Wainwright & Co. acted as co-managers for the Offering. The Company has granted the underwriters an option exercisable, in whole or in part, in the sole discretion of the underwriters, to purchase 2,000,000 additional common shares, for a period of up to 30 days.
The Company intends to use the net proceeds of the Offering for pre-commercialization and launch activities, research and development, as well as working capital and general corporate purposes.
BLG represented Aurinia with a team led by Stephen Robertson that included Michelle Wilkinson and Lauren DeGoey (Securities), and Randy Morphy and Danielle Lewchuk (Tax).