Jefferies and Cowen are the bookrunners; Trout Capital is co-manager
By Devika Patel
Knoxville, Tenn., Dec. 17 – Lion Biotechnologies, Inc. said it priced a $30 million public offering of stock with a $4.5 million greenshoe.
The company will sell 5,217,392 common shares at $5.75 per share. The price per share is a 4.01% discount to the Dec. 16 closing share price of $5.99.
Jefferies LLC and Cowen and Co., LLC are the bookrunners.
Settlement is expected on Dec. 22.
Proceeds will be used for development of product candidates, including a planned phase 2 clinical trial for metastatic melanoma, and other general corporate and working capital purposes.
The biotechnology company is based in Woodland Hills, Calif.
| Issuer: | Lion Biotechnologies, Inc.
|
| Issue: | Common stock
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| Amount: | $30 million
|
| Greenshoe: | $4.5 million
|
| Shares: | 5,217,392
|
| Price: | $5.75
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Cowen and Co., LLC
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| Co-manager: | Trout Capital LLC
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| Pricing date: | Dec. 17
|
| Settlement date: | Dec. 22
|
| Stock symbol: | OTCBB: LBIO
|
| Stock price: | $5.99 at close Dec. 16
|
| Market capitalization: | $190.71 million
|
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