Jefferies, Leerink Partners, Cowen, Stifel help fund studies, trials
By Devika Patel
Knoxville, Tenn., May 21 – Dicerna Pharmaceuticals Inc. said it priced its $48.81 million public sale of stock with a $7.32 million, 30-day greenshoe on Wednesday. The offering was announced Tuesday.
The company will sell 2.75 million common shares at $17.75 per share. The price per share reflects a 5.79% discount to the May 19 closing share price of $18.84.
Jefferies LLC, Leerink Partners LLC and Cowen and Co., LLC are the bookrunners.
Settlement is expected May 27.
Proceeds will be used for preclinical studies and clinical trials, technology platform development, working capital and general corporate purposes, including acquisitions or investments.
The biopharmaceutical company is based in Watertown, Mass.
| Issuer: | Dicerna Pharmaceuticals Inc.
|
| Issue: | Common stock
|
| Amount: | $48,812,500
|
| Greenshoe: | $7,321,875, or 412,500 shares
|
| Shares: | 2.75 million
|
| Price: | $17.75
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC, Leerink Partners LLC and Cowen and Co., LLC
|
| Lead manager: | Stifel, Nicolaus & Co., Inc.
|
| Announcement date: | May 19
|
| Pricing date: | May 20
|
| Settlement date: | May 27
|
| Stock symbol: | Nasdaq: DRNA
|
| Stock price: | $18.84 at close May 19
|
| Market capitalization: | $295.31 million
|
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