Joint bookrunners Wells Fargo, RBC Capital and BMO Capital to assist
By Devika Patel
Knoxville, Tenn., June 8 – Flexion Therapeutics Inc. said it priced a $77 million public sale of stock with an $11.55 million greenshoe. The deal was announced Tuesday.
The company will sell 5.5 million common shares at $14.00 per share. The price per share is a 12.99% discount to the June 9 closing share price of $16.09.
Wells Fargo Securities LLC, RBC Capital Markets and BMO Capital Markets are the bookrunners.
Settlement is expected June 13.
Proceeds will be used for general corporate purposes.
The Burlington, Mass., specialty pharmaceutical company develops injectable pain therapies.
| Issuer: | Flexion Therapeutics Inc.
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| Issue: | Common stock
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| Amount: | $77 million
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| Greenshoe: | $11.55 million, or 825,000 shares
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| Shares: | 5.5 million
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| Price: | $14.00
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| Warrants: | No
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| Bookrunners: | Wells Fargo Securities LLC, RBC Capital Markets and BMO Capital Markets
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| Co-managers: | Janney Montgomery Scott and Laidlaw & Co. (UK) Ltd.
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| Announcement date: | June 7
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| Pricing date: | June 8
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| Settlement date: | June 13
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| Stock symbol: | Nasdaq: FLXN
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| Stock price: | $16.09 at close June 7
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| Market capitalization: | $301.99 million
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