Applied Genetic Technologies Corporation
Apr 3, 2014
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AGTC Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares

GAINESVILLE, Fla., April 3, 2014 (GLOBE NEWSWIRE) -- Applied Genetic Technologies Corporation (Nasdaq:AGTC) announced today the closing on April 1, 2014 of its initial public offering of 4,166,667 shares of its common stock at an initial public offering price of $12.00 per share, and the exercise in full by the underwriters of their option to purchase 625,000 additional shares of common stock, which closed on April 3, 2014. AGTC offered all of the shares of common stock. The aggregate net proceeds to AGTC, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $51.8 million.

BMO Capital Markets and Wedbush PacGrow Life Sciences acted as the book-running managers for the offering and Cantor Fitzgerald & Co. and Roth Capital Partners acted as co-managers.

The Securities and Exchange Commission declared effective a registration statement relating to these securities on March 26, 2014. The offering was made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from BMO Capital Markets Corp., 3 Times Square, New York, NY 10036, Attention: Equity Syndicate Department, Telephone: (800) 414-3627, Email: bmoprospectus@bmo.com; or from Wedbush PacGrow Life Sciences, 2 Embarcadero Center, Suite 600, San Francisco, CA 94111, Attention: Equity Syndicate Department, Telephone: (415) 274-6819.

This press release 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About AGTC

AGTC is a clinical-stage biotechnology company that uses its proprietary gene therapy platform to develop products designed to transform the lives of patients with severe inherited orphan diseases in ophthalmology. AGTC's lead product candidates, which are each in the preclinical stage, focus on X-linked retinoschisis, achromatopsia and X-linked retinitis pigmentosa, which are rare diseases of the eye, caused by mutations in single genes, that significantly affect visual function and currently lack effective medical treatments.

CONTACT: Media Contact:

         David Carey

         Lazar Partners Ltd.

         T: (212) 867-1768

         dcarey@lazarpartners.com

         

         Corporate Contact:

         Larry Bullock

         Chief Financial Officer

         Applied Genetic Technologies Corporation

         T: (386) 462-2204

         lbullock@agtc.com