BofA Merrill Lynch, Wedbush PacGrow Cowen, Stifel assisted with sale
By Devika Patel
Knoxville, Tenn., Dec. 17 – MEI Pharma, Inc. said the underwriters for its public sale of stock opted to exercise the deal’s $6 million greenshoe in full for total proceeds of $46 million. The offering was announced on Dec. 10 and priced for $40 million with the greenshoe on Dec. 12.
The company sold 11.5 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. Of the shares, 1.5 million were part of the fully exercised greenshoe.
BofA Merrill Lynch was the bookrunning manager.
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.
|
| Issue: | Common stock
|
| Amount: | $46 million (including $6 million greenshoe)
|
| Shares: | 11.5 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunner: | BofA Merrill Lynch
|
| Co-lead managers: | Cowen and Co. and Stifel
|
| Co-manager: | Wedbush PacGrow Life Sciences
|
| Announcement date: | Dec. 10
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Stock symbol: | Nasdaq: MEIP
|
| Stock price: | $4.21 at close Dec. 11
|
| Market capitalization: | $90.1 million
|
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