Piper Jaffray, Canaccord help fund development and corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 24 - Derma Sciences Inc. said it priced a $75 million public sale of stock with an $11.25 million greenshoe. The deal was announced Thursday.
The company will sell 6,521,739 common shares at $11.50 apiece. The price per share is a 4.09% discount to the Jan. 23 closing share price of $11.99.
Piper Jaffray & Co. and Canaccord Genuity Inc. are the joint bookrunning managers.
Settlement is expected Jan. 29.
Proceeds will be used for development of DSC127, sales force expansion and general corporate purposes.
Princeton, N.J.-based Derma Sciences manufactures and markets advanced wound care products.
| Issuer: | Derma Sciences Inc.
|
| Issue: | Common shares
|
| Amount: | $75 million
|
| Greenshoe: | $11.25 million
|
| Shares: | 6,521,739
|
| Price: | $11.50
|
| Warrants: | No
|
| Bookrunners: | Piper Jaffray & Co. and Canaccord Genuity Inc.
|
| Announcement date: | Jan. 23
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Stock symbol: | Nasdaq: DSCI
|
| Stock price: | $11.99 at close Jan. 23
|
| Market capitalization: | $203.96 million
|
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