Proceeds used for research and development activities for EVK-001
By Toni Weeks
San Luis Obispo, Calif., Oct. 3 - Underwriters for Evoke Pharma, Inc.'s initial public offering of stock opted to exercise the deal's $3.78 million greenshoe, lifting total proceeds to $28.98 million. The deal was announced on May 24 and priced on Sept. 24 for $25.2 million plus the greenshoe.
The company sold 2,415,000 shares at $12.00 per share. Of the shares, 315,000 comprised the fully exercised greenshoe.
Aegis Capital Corp. is the bookrunning manager.
Settlement is expected Oct. 8 for the additional shares.
Proceeds will be used for research and development activities for EVK-001, working capital and other general corporate purposes.
The specialty pharmaceutical company is based in San Diego. The company expects its shares will trade on the Nasdaq under the symbol "EVOK."
| Issuer: | Evoke Pharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $28.98 million (including $3.78 million greenshoe)
|
| Shares: | 2,415,000
|
| Price: | $12.00
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Co-managers: | Cantor Fitzgerald & Co. and Feltl and Co., Inc.
|
| Announcement date: | May 24
|
| Pricing date: | Sept. 24
|
| Settlement dates: | Sept. 30 (for $25.2 million); Oct. 8 (for $3.78 million)
|
| Expected listing: | Nasdaq: EVOK
|
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