Dendreon Corp (NASDAQ: DNDN) Prospectus Supplement
Filed Pursuant to Rule 424(b)(5)
Registration Number 333-151573
PROSPECTUS SUPPLEMENT DATED AUGUST 29, 2008
This prospectus supplement relates to the sale of up to 3,610,760 shares of our common stock by Azimuth Opportunity Ltd., which we refer to as Azimuth or the Selling Stockholder. We will not receive any of the proceeds from the sale of these shares of our common stock from time to time by Azimuth but we will receive net proceeds of $19,790,576 from our sale of these shares to Azimuth, which is net of the placement agent fee of $209,424. See “Use of Proceeds.”
Reedland Capital Partners, an Institutional Division of Financial West Group, acted as placement agent in our sale of these shares of common stock to Azimuth.
Our common stock is quoted on the NASDAQ Global Market under the symbol “DNDN.” On October 8, 2008, the closing price of our common stock on the NASDAQ Global Market was $5.60 per share.
Investing in our common stock involves significant risks. See “Risk Factors” on page S-5 of this prospectus supplement.
Neither the Securities and Exchange Commission, or SEC, nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is October 9, 2008.
We entered into a Common Stock Purchase Agreement with Azimuth on October 11, 2007, as amended by Amendment No. 1 thereto, dated as of October 8, 2008 (as amended, the “Purchase Agreement”). Under the Purchase Agreement, Azimuth is committed to purchase up to $130,000,000 in shares of our common stock upon the terms and conditions and subject to the limitations set forth therein from time to time upon the receipt of a draw down notice from us. The Purchase Agreement terminates on April 11, 2009. See “Plan of Distribution-Equity Line of Credit” in the accompanying prospectus.
We issued Azimuth draw down notices under the Purchase Agreement on October 6, 2008 and October 8, 2008, in connection with which Azimuth will purchase 3,610,760 shares of our common stock at a purchase price of $5.80 per share, less a 4.5% discount as set forth in the Purchase Agreement, which purchase we expect to close on October 10, 2008. We will receive net proceeds of $19,790,576 from this sale of common stock to Azimuth, which is less the placement agent fee payable to Reedland Capital Partners of $209,424. This prospectus supplement and the accompanying prospectus cover the resale from time to time by Azimuth of these shares of our common stock.