Leerink Partners and Ladenburg Thalmann will assist with the financing
By Devika Patel
Knoxville, Tenn., March 14 - Ignyta, Inc. said it priced a $47.99 million public offering of stock with a $7.2 million greenshoe. The offering was announced Feb. 28.
The company will sell 5,245,000 common shares at $9.15 per share. The price per share reflects an 8.04% discount to the March 13 closing share price of $9.95.
Leerink Partners LLC is the bookrunning manager.
Settlement is expected March 19.
Proceeds will be used for development of RXDX-101, research and development of other product candidates, working capital and general corporate purposes, as well as acquisitions or investments.
The drug development company is based in San Diego.
| Issuer: | Ignyta, Inc.
|
| Issue: | Common stock
|
| Amount: | $47,991,750
|
| Greenshoe: | $7,198,763
|
| Shares: | 5,245,000
|
| Price: | $9.15
|
| Warrants: | No
|
| Bookrunner: | Leerink Partners LLC
|
| Co-lead manager: | Ladenburg Thalmann & Co. Inc.
|
| Announcement date: | Feb. 28
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Stock symbol: | OTCBB: RXDX
|
| Stock price: | $9.95 at close March 13
|
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