Piper Jaffray sells 13,727,251 shares, warrants for 4,175,975 shares
By Devika Patel
Knoxville, Tenn., Sept. 25 - Idera Pharmaceuticals, Inc. priced a $21.28 million public offering of stock, according to a free-writing prospectus filed Wednesday with the Securities and Exchange Commission. The deal was announced Tuesday.
The company will sell 13,727,251 common shares at $1.55 per share. Investors will also buy pre-funded warrants for 4,175,975 shares. The warrants are being sold at $1.54 apiece and are exercisable at $0.01 for seven years.
The warrant purchase price is a 6.1% discount to the Sept. 24 closing share price of $1.64. The price per share is a 5.49% discount to that price.
Piper Jaffray & Co. is the underwriter.
Pillar Pharmaceuticals I, LP and Pillar Pharmaceuticals II, LP will participate.
Settlement is expected Sept. 30.
Idera, based in Cambridge, Mass., develops targeted immune therapies based on the modulation of Toll-like receptors.
| Issuer: | Idera Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $21,277,239
|
| Shares: | 13,727,251
|
| Price: | $1.55
|
| Warrants: | For 4,175,975 shares
|
| Warrant expiration: | Seven years
|
| Warrant price: | $1.54
|
| Warrant strike price: | $0.01
|
| Underwriter: | Piper Jaffray & Co.
|
| Investors: | Pillar Pharmaceuticals I, LP and Pillar Pharmaceuticals II, LP
|
| Announcement date: | Sept. 25
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Stock symbol: | Nasdaq: IDRA
|
| Stock price: | $1.64 at close Sept. 24
|
| Market capitalization: | $83.13 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
