Deal has $7.5 million greenshoe; proceed finance corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 6 - Vical Inc. said it priced a $50 million public sale of stock. Plans for the deal were announced Thursday, and it has a $7.5 million greenshoe.
The company will sell 13,333,334 common shares. The price per share of $3.75 is a 12.38% discount to $4.28, the Jan. 5 closing share price.
Settlement is expected Jan. 11.
Citigroup, Credit Suisse Securities (USA) LLC and Leerink Swann LLC are the joint bookrunning managers; Rodman & Renshaw, LLC is the co-manager.
Proceeds will be used for general corporate purposes, including clinical trial expenses, research and development expenses and other working capital.
Vical, based in San Diego, develops DNA-based vaccines for infectious diseases and cancer.
| Issuer: | Vical Inc.
|
| Issue: | Common stock
|
| Amount: | $50 million
|
| Greenshoe: | $7.5 million
|
| Shares: | 13,333,334
|
| Price: | $3.75
|
| Warrants: | No
|
| Bookrunners: | Citigroup, Credit Suisse Securities (USA) LLC and Leerink Swann LLC
|
| Announcement date: | Jan. 5
|
| Pricing date: | Jan. 6
|
| Settlement date: | Jan. 11
|
| Stock symbol: | Nasdaq: VICL
|
| Stock price: | $4.28 at close Jan. 5
|
| Market capitalization: | $268.84 million
|
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