overallot......
Tuesday August 22, 4:37 pm Eastern Time
Press Release
SOURCE: Dyax Corp.
Dyax Announces Exercise of Underwriters'
Overallotment Option
CAMBRIDGE, Mass., Aug. 22 /PRNewswire/ -- Dyax Corp. (Nasdaq: DYAX - news) today announced in connection with
its initial public offering of 4,000,000 shares of common stock, which priced on August 14, 2000, that J.P. Morgan & Co. has
exercised on behalf of the several underwriters the overallotment option granted to them by Dyax. The underwriters purchased
an additional 600,000 at the initial public offering price of $15.00 per share. J. P. Morgan & Co. was the bookrunning lead
manager for this offering, while Lehman Brothers and Pacific Growth Equities, Inc. acted as co-managers.
Dyax intends to use the proceeds from the purchase of these additional shares to fund research and development, possible
acquisitions of technology and complementary businesses, working capital needs, capital expenditures and for other general
corporate purposes.
Dyax is a biopharmaceutical company that has developed and patented a method, known as phage display, that Dyax is using
to identify a broad range of compounds with potential for the treatment and diagnosis of diseases. Dyax is also using this
method to identify compounds that could be used in purifying and manufacturing biopharmaceuticals and other chemicals.
Copies of the final prospectus relating to the offering may be obtained from J.P. Morgan & Co., 60 Wall Street, New York,
NY 10260. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any
sale in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities law of any such state.
Contact:
Henry Blair or
Stephen Galliker
Dyax Corp.
(617) 225-2500
Sharon Karlsberg or
Wendy Soutsos
Feinstein Kean Healthcare
(617) 577-8110
SOURCE: Dyax Corp. |
