BofA Merrill Lynch and Leerink Swann are joint bookrunning managers
By Devika Patel
Knoxville, Tenn., Oct. 10 - MacroGenics, Inc. said it priced its $80 million initial public offering of stock with a $12 million greenshoe. The deal was announced Wednesday.
The company will sell 5 million common shares at $16.00 apiece.
BofA Merrill Lynch, Leerink Swann and Stifel are the joint bookrunning managers.
Settlement is expected Oct. 16.
Proceeds will be used for clinical development of margetuximab and MGA271, research and development to advance other product candidates and working capital and general corporate purposes, which may include in-licensing or acquiring other products or technologies.
The biopharmaceutical company is based in Rockville, Md. It intends to list its common stock on the Nasdaq under the symbol "MGNX."
| Issuer: | MacroGenics, Inc.
|
| Issue: | Common stock
|
| Amount: | $80 million
|
| Greenshoe: | $12 million
|
| Shares: | 5 million
|
| Price: | $16.00
|
| Warrants: | No
|
| Bookrunners: | BofA Merrill Lynch and Leerink Swann
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| Lead manager: | Stifel Nicolaus
|
| Co-managers: | Lazard Capital Markets and Wedbush PacGrow Life Sciences
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| Announcement date: | Oct. 9
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 16
|
| Stock exchange: | Nasdaq: MGNX
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