Raymond James, Feltl raise funds for operations, corporate purposes
By Devika Patel
Knoxville, Tenn., June 30 – Dipexium Pharmaceuticals, Inc. said the underwriters for its public sale of stock opted to exercise the deal’s $2.78 million greenshoe in full, lifting total proceeds of the offering to $21.28 million. The deal was announced June 24 and priced for $18.5 million with the greenshoe on June 25.
The company sold 1,702,000 common shares at $12.50 per share. The price per share is a 9.75% discount to the June 24 closing share price of $13.85. Of the shares, 222,000 were part of the fully exercised greenshoe.
Raymond James & Associates, Inc. was the bookrunner.
Proceeds will be used for operations and other general corporate purposes.
The pharmaceutical company is based in New York.
| Issuer: | Dipexium Pharmaceuticals, Inc.
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| Issue: | Common stock
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| Amount: | $21,275,000, including $2,775,000 greenshoe of 222,000 shares
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| Shares: | 1,702,000
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| Price: | $12.50
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| Warrants: | No
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| Bookrunner: | Raymond James & Associates, Inc.
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| Co-manager: | Feltl and Co.
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| Announcement date: | June 24
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Stock symbol: | Nasdaq: DPRX
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| Stock price: | $13.85 at close June 24
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| Market capitalization: | $131.09 million
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