SYDNEY, Australia, Feb. 22 /Xinhua-PRNewswire-FirstCall/ -- Pharmaxis (ASX: PXS; Nasdaq: PXSL) announced today that it has filed a shelf registration statement with the U.S. Securities and Exchange Commission. When effective, the registration statement will allow Pharmaxis to issue, from time to time, up to US$250 million of its ordinary shares or other securities over the next three years in the United States. Pharmaxis has been listed on the U.S. Nasdaq Global Market since 2005. The multi-purpose registration statement also covers potential future re-sales of up to 40 million already outstanding ordinary shares of Pharmaxis. Shareholders have not disclosed any plans to sell all or any portion of their Pharmaxis shares, or the timing of sales, if any. The terms of any offering will be established at the time of any sale.
Pharmaxis Chief Financial Officer David McGarvey commented: "Shelf registrations allow a company to complete the sometimes extensive SEC review process prior to issuing securities and then have three years within which to use the prospectus.
"It is an effective, prudent and frequently used planning measure for U.S. listed companies, enabling them to act quickly as required. The registration statements are updated and tailored at the time a company decides to issue securities."
The registration statement relating to these securities is filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Any offering of these securities shall be made only be means of a prospectus contained in the registration statement filed with and declared effective by the Securities and Exchange Commission. The terms and price of any future potential offering would be established at the time of the offering.
To find out more about Pharmaxis, go to http://www.pharmaxis.com.au
Released through:
United States: Brandon Lewis, Trout Group, +1 212 477 9007, blewis@troutgroup.com
Australia: Virginia Nicholls, +61 417 610 824, virginia.nicholls@pharmaxis.com.au
CONTACT:
Alan Robertson - Chief Executive Officer
Tel: +61-2-9454-7200
Email: alan.robertson@pharmaxis.com.au
