J.P. Morgan Securities, Credit Suisse Securities bookrunners for deal
By Devika Patel
Knoxville, Tenn., March 26 - Enanta Pharmaceuticals, Inc. said the underwriters for its initial public offering of stock elected to exercise the deal's $8.4 million greenshoe in full for total proceeds of $64.4 million. The deal was announced Nov. 6 and priced for $56 million with an $8.4 million greenshoe on March 21.
The company sold 4.6 million common shares at $14.00 per share. Of the shares, 600,000 were part of the fully exercised greenshoe.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC were 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: | $64.4 million (including $8.4 million greenshoe)
|
| Shares: | 4.6 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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