Deal sells common shares at $9.00 apiece with $10.13 million greenshoe
By Devika Patel
Knoxville, Tenn., July 20 - Durata Therapeutics, Inc. offered further details about its $67.5 million initial public offering of stock in a prospectus filed Friday with the Securities and Exchange Commission. The deal priced with a $10.13 million greenshoe on Thursday.
The company will sell 7.5 million common shares at $9.00 per share.
Bank of America Merrill Lynch, Credit Suisse, RBC Capital Markets and Wedbush PacGrow Life Sciences are assisting.
Proceeds will be used for clinical development and commercialization of dalbavancin and for working capital and other general corporate purposes, which may include the in-licensing or acquisition of other products or technologies.
The pharmaceutical company is based in Morristown, N.J.
| Issuer: | Durata Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $67.5 million
|
| Greenshoe: | $10,125,000
|
| Shares: | 7.5 million
|
| Price: | $9.00
|
| Warrants: | No
|
| Underwriters: | Bank of America Merrill Lynch, Credit Suisse, RBC Capital Markets and Wedbush PacGrow Life Sciences
|
| Pricing date: | July 19
|
| Stock symbol: | Nasdaq: DRTX
|
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