Proceeds used for Phase 1 clinical trials, general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 26 - Five Prime Therapeutics, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $9.36 million greenshoe in full for total proceeds of $71.76 million. The deal was announced July 26 and priced for $62.4 million with the greenshoe on Sept. 18.
The company sold 5.52 million common shares at $13.00 per share. Of the shares, 720,000 were part of the fully exercised greenshoe.
Jefferies LLC, BMO Capital Markets Corp. and Wells Fargo Securities, LLC were the joint bookrunning managers.
Proceeds will be used for a Phase 1 clinical trial of FPA008, a Phase 1 clinical trial of FPA144, working capital and general corporate purposes.
The clinical-stage biotechnology company is based in South San Francisco, Calif. The company intends to list its common stock on the Nasdaq exchange under the symbol "FPRX."
| Issuer: | Five Prime Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $71.76 million (including $9.36 million greenshoe exercise)
|
| Shares: | 5.52 million
|
| Price: | $13.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC, BMO Capital Markets Corp. and Wells Fargo Securities, LLC
|
| Co-manager: | Guggenheim Securities, LLC
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| Announcement date: | July 26
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 26
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| Stock exchange: | Nasdaq: FPRX
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