Deal conducted by joint bookrunners Roth Capital Partners, Oppenheimer
By Devika Patel
Knoxville, Tenn., June 27 – IGI Laboratories, Inc. said it priced its $23.25 million public offering of stock with a $3.49 million greenshoe. The deal was announced Thursday.
The company will sell 4.65 million common shares at $5.00 apiece. The price per share is a 5.84% discount to the June 26 closing share price of $5.31.
Roth Capital Partners and Oppenheimer & Co. are the joint bookrunning managers.
Settlement is expected July 2.
Proceeds will be used for general corporate purposes.
IGI is a pharmaceutical company based in Hillside, N.J.
| Issuer: | IGI Laboratories, Inc.
|
| Issue: | Common shares
|
| Amount: | $23.25 million
|
| Greenshoe: | $3,487,500
|
| Shares: | 4.65 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Bookrunners: | Roth Capital Partners and Oppenheimer & Co.
|
| Announcement date: | June 26
|
| Pricing date: | June 27
|
| Settlement date: | July 2
|
| Stock symbol: | NYSE: IG
|
| Stock price: | $5.31 at close June 26
|
| Market capitalization: | $243.62 million
|
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