Joint bookrunners Lazard Capital and Piper Jaffray help with offering
By Devika Patel
Knoxville, Tenn., Aug. 7 - Vanda Pharmaceuticals Inc. said it priced a $52.14 million public offering of stock with a $7.82 million greenshoe. The deal was announced Tuesday.
The company will sell 4.68 million common shares at $11.14 per share. The price per share is identical to the Aug. 6 closing share price.
Lazard Capital Markets and Piper Jaffray & Co. are the joint bookrunners.
Settlement is expected Aug. 12.
Proceeds will be used for sales and marketing expenditures, which may include commercial launch activities for tasimelteon, research and development activities and other general corporate purposes.
Vanda is a Rockville, Md.-based pharmaceuticals firm.
| Issuer: | Vanda Pharmaceuticals Inc.
|
| Issue: | Common stock
|
| Amount: | $52,135,200
|
| Greenshoe: | $7,820,280
|
| Shares: | 4.68 million
|
| Price: | $11.14
|
| Warrants: | No
|
| Bookrunners: | Lazard Capital Markets LLC and Piper Jaffray & Co.
|
| Co-manager: | JMP Securities LLC
|
| Announcement date: | Aug. 6
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Stock symbol: | Nasdaq: VNDA
|
| Stock price: | $11.14 at close Aug. 6
|
| Market capitalization: | $316.4 million
|
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