Deal sells common shares at $9.00 apiece with $10.13 million greenshoe
By Devika Patel
Knoxville, Tenn., July 19 - Durata Therapeutics, Inc. priced its $67.5 million initial public offering of stock with a $10.13 million greenshoe in a free-writing prospectus filed Thursday with the Securities and Exchange Commission.
The company will sell 7.5 million common shares at $9.00 per share.
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
|
| Pricing date: | July 19
|
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