SEC Filings

424B5
AVEXIS, INC. filed this Form 424B5 on 06/19/2017
Entire Document
 

Table of Contents


DILUTION

          If you invest in our common stock, your ownership interest will be diluted to the extent of the difference between the public offering price per share of our common stock and the as adjusted net tangible book value per share of our common stock immediately after this offering.

          As of March 31, 2017, we had a historical net tangible book value of $221.7 million, or $7.99 per share of common stock. Our historical net tangible book value per share represents total tangible assets less total liabilities, divided by the number of shares of our common stock outstanding as of March 31, 2017.

          After giving effect to the sale of $200,000,000 of shares of common stock in this offering at the assumed public offering price of $70.88 per share, the last reported sale price of our common stock on The NASDAQ Global Select Market on June 16, 2017, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us, our as adjusted net tangible book value as of March 31, 2017 would have been approximately $409.0 million, or approximately $13.38 per share. This amount represents an immediate increase in net tangible book value of $5.39 per share to our existing stockholders and immediate dilution of approximately $57.50 per share to new investors in this offering. We determine dilution by subtracting the as adjusted net tangible book value per share after this offering from the amount of cash that a new investor paid for a share of common stock.

          The following table illustrates this dilution:

Assumed public offering price per share

        $ 70.88  

Net tangible book value per share as of March 31, 2017, before giving effect to this offering

  $ 7.99        

Increase in as adjusted net tangible book value per share attributable to investors purchasing our common stock in this offering

    5.39        

As adjusted net tangible book value per share, after giving effect to this offering

          13.38  

Dilution per share to investors purchasing our common stock in this offering

        $ 57.50  

          A $5.00 increase in the assumed public offering price of $70.88 per share, the last reported sale price of our common stock on The NASDAQ Global Select Market on June 16, 2017, would decrease the number of shares of common stock to be issued by us in the offering by 185,930 shares, would increase our as adjusted net tangible book value per share, after giving effect to this offering, by approximately $0.08 and would increase the dilution to investors purchasing shares in this offering by approximately $4.92, assuming that the aggregate dollar amount of shares offered by us, as set forth on the cover page of this prospectus supplement, remains the same, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

          A $5.00 decrease in the assumed public offering price of $70.88 per share, the last reported sale price of our common stock on The NASDAQ Global Select Market on June 16, 2017, would increase the number of shares of common stock to be issued by us in the offering by 214,152 shares, would decrease our as adjusted net tangible book value per share, after giving effect to this offering, by approximately $0.09 and would decrease the dilution to investors purchasing shares in this offering by approximately $4.91, assuming that the aggregate dollar amount of shares offered by us, as set forth on the cover page of this prospectus supplement, remains the same, and after

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