Bookrunner Piper Jaffray raises funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., May 6 – Antares Pharma, Inc. said it priced a $40 million public sale of stock with a $6 million greenshoe. The offering was announced Tuesday.
The company will sell 20 million common shares at $2.00 per share. The price per share is a 13.04% discount to the May 5 closing share price of $2.30.
Piper Jaffray & Co. is the bookrunner.
Settlement is expected May 11.
Proceeds will be used for general corporate purposes, including business development, in-licensing and acquisitions.
Located in Ewing, N.J., Antares is a pharmaceutical company focused on self-injection pharmaceutical products and technologies and topical gel-based products.
Issuer: | Antares Pharma, Inc.
|
Issue: | Common stock
|
Amount: | $40 million
|
Greenshoe: | $6 million
|
Shares: | 20 million
|
Price: | $2.00
|
Warrants: | No
|
Bookrunner: | Piper Jaffray & Co.
|
Co-managers: | Raymond James & Associates, Inc. and Oppenheimer & Co. Inc.
|
Announcement date: | May 5
|
Pricing date: | May 6
|
Settlement date: | May 11
|
Stock symbol: | Nasdaq: ATRS
|
Stock price: | $2.30 at close May 5
|
Market capitalization: | $276.68 million
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.