Spark Therapeutics, Inc. (Spark) recently announced a public offering issuing two-million primary shares at $47.00 per share. Spark indicated that proceeds of the sale are expected to be used for future expansion and product development.
Included in the sale as a secondary offering are one-million shares, at $47.00, held by The Children’s Hospital of Philadelphia (CHOP). CHOP shares are being offered in order to recoup its initial capital investment in Spark and as part of its strategy to monetize its holdings in an orderly manner. Following the sale, CHOP will hold approximately 7.9 million shares of Spark Therapeutics, assuming no exercise by the underwriters of their option to purchase additional shares.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.