Relypsa Announces Full Exercise of Underwriters' Option to Purchase Additional Shares and Closing of Public Offering of Common Stock

REDWOOD CITY, Calif., March 3, 2015 (GLOBE NEWSWIRE) -- Relypsa, Inc. (Nasdaq:RLYP), a biopharmaceutical company, today announced the closing of its public offering of 4,485,000 shares of its common stock at a price to the public of $38.50 per share for gross proceeds of approximately $172.3 million, which includes the exercise in full by the underwriters of their option to purchase up to 585,000 shares of common stock. Relypsa estimates net proceeds from the offering to be approximately $161.9 million, after deducting underwriting discounts and commissions and estimated offering expenses.

BofA Merrill Lynch and Cowen and Company acted as joint book-running managers for the offering. Oppenheimer & Co., Stifel, Nicolaus & Company and Wedbush PacGrow Life Sciences acted as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on December 15, 2014. This offering was made solely by means of a prospectus. This press release shall not constitute an offer to sell or the 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.

About Relypsa, Inc.

Relypsa, Inc. is a biopharmaceutical company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. A New Drug Application for Patiromer for Oral Suspension, Relypsa's lead product candidate for the treatment of hyperkalemia, was accepted by the U.S. Food and Drug Administration and is currently under review.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Relypsa, they are forward-looking statements reflecting the current beliefs and expectations of management. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the regulatory approval process. Relypsa undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Relypsa's current and future reports filed with the U.S. Securities and Exchange Commission, or SEC, including its Annual Report on Form 10-K for the year ended December 31, 2013 and its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2014, as well as the prospectus for the public offering included as part of the Registration Statement on Form 424(b)(5) related to such offering filed with the Securities and Exchange Commission.

CONTACT: Alex Dobbin Associate Director, Investor Relations and Corporate Affairs 650.421.9687

Source:Relypsa, Inc.