Deal conducted by bookrunners Stifel, Cowen at $7.50 per common share
By Devika Patel
Knoxville, Tenn., April 5 - MEI Pharma, Inc. said it plans a $15.23 million registered offering of stock that will be conducted through joint bookrunners Stifel and Cowen and Co.
The company will sell 2.03 million common shares at $7.50 apiece. The price per share is a 9.53% discount to the April 4 closing share price of $8.29.
Settlement is expected April 10.
Proceeds will be used to progress the clinical development program for drug candidate Pracinostat and for other general corporate purposes.
The oncology company is based in San Diego.
| Issuer: | MEI Pharma, Inc.
|
| Issue: | Common shares
|
| Amount: | $15,225,000
|
| Shares: | 2.03 million
|
| Price: | $7.50
|
| Warrants: | No
|
| Bookrunners: | Stifel and Cowen and Co.
|
| Co-manager: | Roth Capital Partners
|
| Pricing date: | April 5
|
| Settlement date: | April 10
|
| Stock symbol: | Nasdaq: MEIP
|
| Stock price: | $8.29 at close April 4
|
| Market capitalization: | $115.62 million
|
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