Bookrunners J.P. Morgan and BofA Merrill Lynch will assist with sale
By Devika Patel
Knoxville, Tenn., Oct. 16 – Esperion Therapeutics, Inc. said it priced an $85 million public sale of stock with a $12.75 million greenshoe. The deal was announced Tuesday.
The company will sell 4.25 million common shares at $20.00 per share. The price per share is a 13.98% discount to the Oct. 15 closing share price of $23.25.
J.P. Morgan and BofA Merrill Lynch are the joint bookrunning managers.
Settlement is expected Oct. 21.
Proceeds will be used for development, clinical studies, working capital and general corporate and administrative expenses.
The clinical-stage biopharmaceutical company is based in Plymouth, Mich.
| Issuer: | Esperion Therapeutics, Inc.
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| Issue: | Common stock
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| Amount: | $85 million
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| Greenshoe: | $12.75 million
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| Shares: | 4.25 million
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| Price: | $20.00
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| Warrants: | No
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| Bookrunners: | J.P. Morgan and BofA Merrill Lynch
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| Co-managers: | Stifel, and Needham & Co.
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| Announcement date: | Oct. 14
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Stock symbol: | Nasdaq: ESPR
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| Stock price: | $23.25 at close Oct. 15
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| Market capitalization: | $304.45 million
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