J.P. Morgan Securities and Credit Suisse Securities are bookrunners
By Devika Patel
Knoxville, Tenn., March 21 - Enanta Pharmaceuticals, Inc. said it priced its $56 million initial public offering of stock with an $8.4 million greenshoe. It expects the shares to trade on the Nasdaq under the symbol "ENTA." The deal was announced Nov. 6.
The company will sell 4 million common shares at $14.00 per share.
Settlement is expected March 26.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the joint bookrunning managers.
Proceeds will be used for studies, clinical development and preclinical development of drug candidates, as well as for research and development activities, working capital and other general corporate purposes. The company may also invest the proceeds in capital preservation investments.
The research and development-focused biotechnology company is based in Watertown, Mass.
| Issuer: | Enanta Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $56 million
|
| Greenshoe: | $8.4 million
|
| Shares: | 4 million
|
| Price: | $14.00
|
| Warrants: | No
|
| Bookrunners: | J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC
|
| Co-managers: | Leerink Swann LLC and JMP Securities LLC
|
| Announcement date: | Nov. 6
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
| Stock exchange: | Nasdaq: ENTA
|
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