Alder BioPharmaceuticals, Inc. Announces Closing of $250 Million of 2.50% Convertible Senior Notes Due 2025

BOTHELL, Wash., Feb. 01, 2018 -- Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR), a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, announced the closing today of its previously announced underwritten offering of $250 million aggregate principal amount of 2.50% convertible senior notes due 2025 (the “Notes”). Alder has also granted the underwriters a 30-day option to purchase up to an additional $37.5 million aggregate principal amount of Notes, solely to cover over-allotments. Alder’s preferred stock purchase agreement with certain institutional and other accredited investors affiliated with or managed by Redmile Group, LLC (the “Buyers”) and Alder’s right to sell to the Buyers the remaining $150 million of preferred stock under that agreement terminated upon the closing of this offering.

Alder intends to use net proceeds from the offering to fund the development and commercialization of eptinezumab, and in particular, activities in support of achieving approval by the U.S. Food and Drug Administration for, and executing the commercial launch of, the infusion formulation of eptinezumab.

Goldman Sachs & Co. LLC, Leerink Partners LLC and Wells Fargo Securities, LLC acted as book-running managers for the offering.

A shelf registration statement relating to the offering was filed with the Securities and Exchange Commission (the “SEC”), and was effective on filing on February 23, 2017.  A final prospectus supplement and the accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC's website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone toll-free at 1-866-471-2526 or by email at [email protected]; from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6132 or by email at [email protected]; or from Wells Fargo Securities, LLC, Attention: Equity Syndicate, 375 Park Avenue, New York, New York 10152, by telephone toll-free at 800-326-5897 or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities 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.

Forward-Looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, relating to Alder’s anticipated use of net proceeds from the offering, and the continued development and commercialization of eptinezumab. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. More information about the risks and uncertainties faced by Alder is contained in the section captioned "Risk Factors" in the final prospectus supplement related to the public offering filed with the SEC and other filings with the SEC from time to time. Alder disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.