ITEM 2.02 Results of Operations and Financial Condition.
On January 6, 2020, the Intra-Cellular Therapies, Inc. (the "Company" or "we")
filed with the Securities and Exchange Commission a preliminary prospectus
supplement to its effective shelf registration statement on Form S-3 (File
No. 333-235817) (the "Preliminary Prospectus Supplement") pursuant to Rule
424(b)(5) under the Securities Act of 1933, as amended (the "Securities Act"),
relating to a proposed public offering of shares of the Company's common stock.
The Company included the following disclosure in the Preliminary Prospectus
Supplement:
"While we have not finalized our financial results for the fiscal year ended
December 31, 2019, we expect to report that, as of December 31, 2019, we had
cash, cash equivalents and investment securities of approximately $224 million.
This amount is preliminary, unaudited and may change, was prepared by management
and is based on the most current information available to management, and is
subject to completion by management of the financial statements as of and for
the year ended December 31, 2019, or the 2019 financial statements, including
completion of the review procedures, final adjustments and other developments
that may arise between now and the time the financial results for this period
are finalized, and completion of the audit of the 2019 financial statements. As
a result, there can be no assurance that our cash, cash equivalents and
investment securities as of December 31, 2019 will not differ from these
estimates and any such change could be material. Additional information and
disclosures are required for a more complete understanding of our financial
position and results of operations as of and for the year ended December 31,
2019."
ITEM 8.01 Other Events.
On January 6, 2020, the Company issued a press release announcing it has
commenced an underwritten public offering of 10,000,000 shares of its common
stock, and its intention to grant the underwriters a 30-day option to purchase
up to an additional 15% of the shares of common stock offered in the public
offering. All of the shares in the offering will be sold by the Company. A copy
of the press release is attached hereto as Exhibit 99.1, and is incorporated
herein by reference.
J.P. Morgan Securities LLC, SVB Leerink LLC and Evercore Group L.L.C. are acting
as joint book-running managers for the offering. The offering is subject to
market and other conditions, and there can be no assurance as to whether or when
the offering may be completed, or as to the actual size or terms of the
offering.
In addition, the Preliminary Prospectus Supplement contains an updated summary
description of the Company's business in the section entitled "Prospectus
Supplement Summary," which is attached hereto as Exhibit 99.2 and incorporated
herein by reference, and updated risk factors in the section entitled "Risk
Factors" in the base prospectus attached to the Preliminary Prospectus
Supplement, which is attached hereto as Exhibit 99.3 and incorporated herein by
reference.
This Current Report on Form 8-K, including the exhibits hereto, shall not
constitute an offer to sell or the solicitation of an offer to buy the
securities of the Company, which is being made only by means of a written
prospectus meeting the requirements of Section 10 of the Securities Act, nor
shall there be any offer, solicitation, or sale of the securities in any state
or other 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 other jurisdiction.
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ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release of Intra-Cellular Therapies, Inc., dated January 6,
2020.
99.2 Prospectus Supplement Summary included in Intra-Cellular
Therapies, Inc.'s Preliminary Prospectus Supplement dated January 6,
2020 to the Registration Statement on Form S-3 (File
No. 333-235817).
99.3 Risk Factors included in the base prospectus attached to
Intra-Cellular Therapies, Inc.'s Preliminary Prospectus Supplement
dated January 6, 2020 to the Registration Statement on Form S-3
(File No. 333-235817).
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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