Leerink Partners and Ladenburg Thalmann assisted with the financing
By Devika Patel
Knoxville, Tenn., March 17 - Ignyta, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $7.2 million greenshoe in full for total proceeds of $55.19 million. The offering was announced Feb. 28 and priced for $47.99 million with the greenshoe on March 14.
The company will sell 6,031,750 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. Of the shares, 786,750 are part of the fully exercised greenshoe.
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: | $55,190,513 (including $7,198,763 greenshoe)
|
| Shares: | 6,031,750
|
| 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
|
| Market capitalization: | $137.91 million
|
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