Joint bookrunners Jefferies and Piper Jaffray assist
By Susanna Moon
Chicago, Oct. 29 – Vanda Pharmaceuticals Inc. priced its public offering of shares at $11.60 per share for proceeds of about $58 million. The deal with a 30-day 15% greenshoe was announced on Tuesday.
The company sold 5 million common shares at a price of $11.60 per share, which is a 3.57% discount to the company’s closing price on Oct. 28.
Proceeds will be used for sales and marketing expenditures, research and development and other general corporate purposes.
Vanda is a Rockville, Md.-based pharmaceuticals firm.
| Issuer: | Vanda Pharmaceuticals Inc.
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| Issue: | Common stock
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| Amount: | $58 million
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| Greenshoe: | For 15%
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| Shares: | 5 million
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| Price: | $11.60
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| Warrants: | No
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| Bookrunners: | Jefferies LLC and Piper Jaffray & Co.
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| Co-manager: | JMP Securities LLC and Canaccord Genuity Inc.
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| Announcement date: | Oct. 28
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Stock symbol: | Nasdaq: VNDA
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| Stock price: | $12.03 at close Oct. 28
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| Market capitalization: | $402.25 million
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