BofA Merrill Lynch, Wedbush PacGrow Cowen and Stifel assist with sale
By Devika Patel
Knoxville, Tenn., Dec. 12 – MEI Pharma, Inc. said it priced a $40 million public sale of stock with a $6 million greenshoe. The offering was announced on Wednesday.
The company will sell 10 million common shares at $4.00 per share. The price per share is a 4.99% discount to the Dec. 11 closing share price of $4.21.
BofA Merrill Lynch is the bookrunning manager.
Settlement is expected on Dec. 17.
Proceeds will be used for the clinical development programs for Pracinostat, ME-344 and PWT143 and other general corporate purposes.
The oncology company is based in San Diego.
| Issuer: | MEI Pharma, Inc.
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| Issue: | Common stock
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| Amount: | $40 million
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| Greenshoe: | $6 million
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| Shares: | 10 million
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| Price: | $4.00
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| Warrants: | No
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| Bookrunner: | BofA Merrill Lynch
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| Co-lead managers: | Cowen and Co. and Stifel
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| Co-manager: | Wedbush PacGrow Life Sciences
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| Announcement date: | Dec. 10
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| Pricing date: | Dec. 12
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| Settlement date: | Dec. 17
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| Stock symbol: | Nasdaq: MEIP
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| Stock price: | $4.21 at close Dec. 11
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| Market capitalization: | $96.37 million
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