Deal conducted by bookrunners Morgan Stanley, JPMorgan at $14.50
By Devika Patel
Knoxville, Tenn., Aug. 9 - Infinity Pharmaceuticals, Inc. has priced a $76.85 million public offering of stock with an $11.53 million greenshoe, according to a free-writing prospectus filed Thursday with the Securities and Exchange Commission.
The company will sell 5.3 million common shares at $14.50 per share. The price per share reflects a 4.35% discount to the Aug. 8 closing share price of $15.16.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunners.
Settlement is expected Aug. 14.
Proceeds will be used for research and development, including clinical development of product candidates, as well as for working capital, capital expenditures, potential acquisitions of complementary businesses, technologies or products and general corporate purposes.
Infinity is a Cambridge, Mass., pharmaceutical company working on cancer treatments.
| Issuer: | Infinity Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $76.85 million
|
| Greenshoe: | $11,527,500
|
| Units: | 5.3 million
|
| Price: | $14.50
|
| Warrants: | No
|
| Bookrunners: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC
|
| Pricing date: | Aug. 9
|
| Settlement date: | Aug. 14
|
| Stock symbol: | Nasdaq: INFI
|
| Stock price: | $15.16 at close Aug. 8
|
| Market capitalization: | $415.96 million
|
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