Stifel, Needham, Roth Capital, H.C. Wainright will assist with sale
By Devika Patel
Knoxville, Tenn., March 23 – Celator Pharmaceuticals, Inc. said it priced a $38 million public offering of stock with a $5.7 million greenshoe. The deal was announced on Tuesday.
The company will sell 4 million common shares at $9.50 per share. The price per share is a 5.1% discount to the March 22 closing share price of $10.01.
Stifel is the bookrunner.
Settlement is expected on March 29.
The pharmaceutical company is based in Ewing, N.J.
| Issuer: | Celator Pharmaceuticals, Inc.
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| Issue: | Common stock
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| Amount: | $38 million
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| Greenshoe: | $5.7 million, or 600,000 shares
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| Shares: | 4 million
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| Price: | $9.50
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| Warrants: | No
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| Bookrunner: | Stifel
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| Lead manager: | Needham & Co., LLC
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| Co-managers: | Roth Capital Partners, H.C. Wainwright & Co. and National Securities Corp.
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| Announcement date: | March 22
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| Pricing date: | March 23
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| Settlement date: | March 29
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| Stock symbol: | Nasdaq: CPXX
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| Stock price: | $10.01 at close March 22
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| Market capitalization: | $414.89 million
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