Offering conducted through bookrunners Jeffries, Cowen, Piper Jaffray
By Devika Patel
Knoxville, Tenn., Feb. 26 – Lion Biotechnologies, Inc. said it priced its $64 million public offering of its common stock with a $9.6 million greenshoe. The deal was announced Wednesday.
The company will sell 8 million common shares at $8.00 per share. The price per share is a 14.07% discount to the Feb. 25 closing share price of $9.31.
Jefferies LLC, Cowen and Co, LLC and Piper Jaffray & Co. are the bookrunners.
Settlement is expected March 3.
Proceeds will be used for product development, clinical trials and general corporate and working capital purposes.
The biotechnology company is based in Woodland Hills, Calif.
| Issuer: | Lion Biotechnologies, Inc.
|
| Issue: | Common stock
|
| Amount: | $64 million
|
| Greenshoe: | $9.6 million
|
| Shares: | 8 million
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC, Cowen and Co, LLC and Piper Jaffray & Co.
|
| Co-manager: | Roth Capital Partners, LLC
|
| Announcement date: | Feb. 16
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Stock symbol: | OTCBB: LBIO
|
| Stock price: | $9.31 at close Feb. 25
|
| Market capitalization: | $306.51 million
|
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