Deal includes 30-day greenshoe for 637,500 additional shares
By Susanna Moon
Chicago, Feb. 11 – AveXis, Inc. said it priced its initial public offering of stock with a 30-day greenshoe for total proceeds of $85 million. The deal was announced Feb. 9.
AveXis will sell 4.75 million shares of common stock at a price of $20.00 per share, according to a company press release.
The shares will begin trading Feb. 11 on the Nasdaq under the ticker symbol “AVXS.”
As previously announced, the deal includes a 30-day greenshoe for 637,500 additional shares.
The price range was expected to be between $19.00 and $21.00.
Goldman Sachs & Co. and Jefferies LLC are the bookrunners.
Proceeds will be used for clinical trials, manufacturing and other general corporate purposes, including general and administrative expenses and working capital.
The clinical-stage gene therapy company is based in Bannockburn, Ill.
| Issuer: | AveXis, Inc.
|
| Issue: | Common stock
|
| Amount: | $85 million
|
| Greenshoe: | For 637,500 shares
|
| Shares: | 4.75 million
|
| Price: | $20.00
|
| Warrants: | No
|
| Bookrunners: | Goldman Sachs & Co. and Jefferies LLC
|
| Managers: | BMO Capital Markets Corp. (lead), and Chardan Capital Markets LLC (co-manager)
|
| Settlement date: | Feb. 17
|
| Stock symbol: | Nasdaq: AVXS
|
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