SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): April 2, 2014
CATALYST PHARMACEUTICAL PARTNERS, INC.
(Exact Name Of Registrant As Specified In Its Charter)
(State or other jurisdiction
355 Alhambra Circle
Coral Gables, Florida
|(Address of principal executive offices)||(Zip Code)|
Registrants telephone number, including area code: (305) 529-2522
Former Name or Former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|¨||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|¨||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|¨||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))|
|¨||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
|Item 1.01||Entry into a Material Definitive Agreement|
On April 3, 2014, Catalyst Pharmaceutical Partners, Inc. (the Company) entered into an Underwriting Agreement (the Underwriting Agreement) with Piper Jaffray & Co. (the Underwriter), as representative of the underwriters named in Schedule I to the Underwriting Agreement, relating to the sale (the Offering) of shares of our common stock, par value $0.001 per share (the Shares). Pursuant to the Underwriting Agreement, the Company agreed to issue and sell 11,325,000 Shares to the Underwriter at a public offering price of $2.21 per share. Pursuant to the Underwriting Agreement, the Company also granted the underwriter the right to purchase an additional 1,698,750 Shares within 30 days of April 3, 2014, to cover over-allotments, if any.
We expect the offering to close on April 8, 2014, subject to the satisfaction of customary closing conditions. The net proceeds to us are expected to be approximately $23.3 million, after deducting the underwriting discount and estimated offering expenses payable by us. We intend to use the net proceeds of the Offering (i) to fund our product development efforts for Firdapse and CPP-115, (ii) to fund our pre-commercialization activities for Firdapse, and (iii) for general corporate purposes.
The underwriting agreement contains customary representations, warranties and covenants by us, customary conditions to closing, indemnification obligations of the Company and the underwriters, including with respect to liabilities under the Securities Act of 1933, as amended, as well as customary termination provisions.
The foregoing is only a brief description of the material terms of the Underwriting Agreement and does not purport to be a complete description of the rights and obligations of the parties hereunder and is qualified in its entirety by reference to the Underwriting Agreement, which is filed hereto as Exhibit 1.1 and incorporated by reference herein.
The legal opinion, including the related consent, of Akerman LLP relating to the issuance of the Shares is filed as Exhibit 5.1 to this Current Report on Form 8-K.
On April 2, 2014, the Company issued a press release announcing the commencement of the Offering. On April 3, 2014, the Company issued a press release announcing the specific terms and conditions of the Offering. Each of these press releases are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
|Item 9.01||Financial Statements and Exhibits.|
|1.1||Underwriting Agreement, dated April 3, 2014, between Catalyst Pharmaceutical Partners, Inc. and Piper Jaffray & Co., as representative of the underwriters named in Schedule I thereto.|
|5.1||Opinion of Akerman LLP|
|23.1||Consent of Akerman LLP (included in Exhibit 5.1)|
|99.1||Press release issued by the Company on April 2, 2014|
|99.2||Press release issued by the Company on April 3, 2014|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|Catalyst Pharmaceutical Partners, Inc.|
|Vice President, Treasurer and CFO|
Dated: April 3, 2014