Fenwick & West represented Cascadian Therapeutics, Inc. (NAS: CASC), a clinical-stage biopharmaceutical company, in its underwritten public offerings of 26,659,300 shares of its common stock (inclusive of the underwriters’ option to purchase additional shares) at a price to the public of $3.30 per share for gross proceeds of approximately $88 million and 1,818 shares of its Series E Convertible Preferred Stock at a price to the public of $3,300 per share for gross proceeds of approximately $6 million. The offerings were made pursuant to an effective shelf registration statement previously filed with the SEC.
Cowen and Company, LLC and Barclays Capital Inc. acted as joint book-running managers. Raymond James & Associates, Inc. acted as the lead manager and BTIG, LLC acted as a co-manager in the offerings.
The Fenwick transaction team included corporate lawyers Alan Smith, Effie Toshav, Robert Freedman, Amanda Rose and Ryan McRobert.