Deal sells shares at $9.00 apiece; $10.13 million greenshoe exercised
By Devika Patel
Knoxville, Tenn., July 24 - Durata Therapeutics, Inc. said it settled its $77.63 million initial public offering of stock. The deal priced for $67.5 million with a $10.13 million greenshoe on July 19.
The company sold 8,625,000 common shares at $9.00 per share. Of the shares, 1,125,000 were part of the fully exercised greenshoe.
BofA Merrill Lynch, Credit Suisse, RBC Capital Markets and Wedbush PacGrow Life Sciences were the underwriters.
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: | $77,625,000 (including $10,125,000 greenshoe)
|
| Shares: | 8,625,000
|
| Price: | $9.00
|
| Warrants: | No
|
| Underwriters: | BofA Merrill Lynch, Credit Suisse, RBC Capital Markets and Wedbush PacGrow Life Sciences
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Stock symbol: | Nasdaq: DRTX
|
| Stock price: | $9.12 at close July 24
|
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