Cowen is the bookrunner; proceeds fund commercialization of Iluvien
By Devika Patel
Knoxville, Tenn., Aug. 11 – Alimera Sciences, Inc. said it priced a $25.2 million public sale of stock with a $1.26 million greenshoe. The offering was announced Wednesday.
The company will sell 18 million common shares at $1.40 per share. The price per share is a 14.11% discount to the Aug. 10 closing share price of $1.63.
Cowen and Co. is the bookrunner.
Settlement is expected Aug. 16.
Proceeds will be used for commercialization of Iluvien, working capital and other general corporate purposes.
Atlanta-based Alimera Sciences develops and markets ophthalmology pharmaceuticals.
Issuer: | Alimera Sciences, Inc.
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Issue: | Common stock
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Amount: | $25.2 million
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Greenshoe: | $1.26 million, or 900,000 shares
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Shares: | 18 million
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Price: | $1.40
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Warrants: | No
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Bookrunner: | Cowen and Co.
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Co-manager: | Laidlaw & Co. (UK) Ltd.
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Announcement date: | Aug. 10
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Stock symbol: | Nasdaq: ALIM
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Stock price: | $1.63 at close Aug. 10
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Market capitalization: | $71.17 million
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