BMO, RBC, Needham, Janney Montgomery Scott and Summer Street to assist
By Devika Patel
Knoxville, Tenn., Dec. 12 – Flexion Therapeutics Inc. said it priced an $85.68 million public offering of stock with a $12.85 million greenshoe. The deal was announced Dec. 8.
The company will sell 5.04 million common shares at $17.00 per share. The price per share is a 1.79% discount to the Dec. 11 closing share price of $17.31.
BMO Capital Markets Corp. and RBC Capital Markets, LLC are the joint bookrunning managers.
Settlement is expected Dec. 17.
Proceeds will be used for product development, sales and marketing, clinical studies and general working capital purposes.
The Burlington, Mass., specialty pharmaceutical company develops injectable pain therapies.
| Issuer: | Flexion Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $85.68 million
|
| Greenshoe: | $12,852,000
|
| Shares: | 5.04 million
|
| Price: | $17.00
|
| Warrants: | No
|
| Bookrunner: | BMO Capital Markets Corp. and RBC Capital Markets, LLC
|
| Lead manager: | Needham & Co., LLC
|
| Co-managers: | Janney Montgomery Scott and Summer Street Research Partners
|
| Announcement date: | Dec. 8
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Stock symbol: | Nasdaq: FLXN
|
| Stock price: | $17.31 at close Dec. 11
|
| Market capitalization: | $291.44 million
|
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