O’Melveny Represents Nektar Therapeutics in Public Offering of Common Stock

January 24, 2011



Andrea Rodeschini                            Julie Fei
O'Melveny & Myers LLP                     O'Melveny & Myers LLP
212.326.2251                                   213.430.7792
arodeschini@omm.com                     jfei@omm.com

SILICON VALLEY, CALIFORNIA ─ JANUARY 24, 2010 ─ O’Melveny & Myers LLP represented Nektar Therapeutics (Nektar) in its underwritten public offering of 19 million shares of its common stock, raising approximately US$220.4 million.  The public offering closed on January 24, 2011.


Additionally, Nektar has granted the underwriter an option, exercisable for 30 days after January 19, 2011, to purchase up to 2.85 million additional shares of common stock to cover overallotments, if any.


The O’Melveny Silicon Valley team was led by partner Sam Zucker and counsel Jennifer DePalma.


About O'Melveny & Myers LLP's Mergers and Acquisitions Practice

O’Melveny & Myers LLP counsels buyers and sellers in a wide variety of M&A and private equity transactions.  We have broad-based experience in acquisitions and dispositions of both established and emerging businesses, whether public or private, US, or international.  In addition to conventional engagements for buyers and sellers, the Firm’s diverse knowledge and experience in M&A transactions includes advising special committees of boards of directors, investment banks, and other principals and financial advisors in connection with M&A transactions.  We regularly represent buyout funds, mezzanine debt funds, and other acquisition vehicles, both with respect to their structuring and formation and in connection with subsequent investments.  We are also experienced in restructurings, reorganizations, divestitures, and spin-off transactions.


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The following press release was recently issued by Nektar Therapeutics:

Nektar Therapeutics Completes Public Offering of Common Stock
SAN FRANCISCO, Jan. 24, 2011 /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) today announced the completion of a public offering of 19,000,000 shares of its common stock.  All of the shares were offered by Nektar Therapeutics.  The net proceeds to Nektar Therapeutics from the sale of shares in the public offering, after deducting underwriting discounts and commissions, were $220.4 million.

In addition, Nektar Therapeutics has granted the underwriter an option, exercisable for 30 days after January 19, 2011, to purchase up to 2,850,000 additional shares of common stock to cover overallotments, if any.

The company estimates expenses payable by Nektar in connection with this offering, other than the underwriting discounts and commissions referred to above, will be approximately $600,000.

Jefferies & Company, Inc. acted as sole book-running manager in the offering.

A registration statement relating to the shares issued in the offering was filed with, and deemed effective by, the Securities and Exchange Commission on January 18, 2011.  A prospectus supplement dated January 19, 2011 relating to the offering was filed with the Securities and Exchange Commission on January 21, 2011.  Copies of the prospectus supplement and related prospectus may be obtained from Jefferies & Company, Inc., Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022 or at (888) 449-2342.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

CONTACT:  Jennifer Ruddock of Nektar Therapeutics, +1-415-482-5585, jruddock@nektar.com

SOURCE Nektar Therapeutics