Bluebird Bio Prices Public Offering Of 2.94 Mln Shares At $170/shr - Quick Facts

(RTTNews) - bluebird bio Inc. (BLUE) announced the pricing of an underwritten public offering of 2.94 million shares of its common stock at a public offering price of $170.00 per share, before underwriting discounts.

In addition, bluebird bio has granted the underwriters a 30-day option to purchase from it up to an additional 441,176 shares of common stock.

The offering is expected to close on or about June 29, 2015, subject to customary closing conditions.

bluebird bio anticipates the total gross proceeds from the offering (before deducting underwriters' discounts and commissions and estimated offering expenses) will be approximately $500 million, excluding any exercise of the underwriters' option to purchase additional shares.

bluebird bio intends to use the proceeds of this offering primarily to advance its immuno-oncology programs, build its commercial infrastructure to support a potential conditional commercial launch in Europe, expand its manufacturing capabilities to support ongoing and anticipated development and commercial efforts and initiate clinical studies of LentiGlobin in adult, adolescent and pediatric subjects with beta-thalassemia major.

The balance will be used for general and administrative expenses, potential future development programs, early-stage research and development, capital expenditures and working capital and other general corporate purposes.