Underwriters exercise greenshoe in full for 3 million shares
By Marisa Wong
Madison, Wis., Feb. 14 - Array BioPharma Inc. said it closed its previously announced public offering of common stock on Tuesday, raising $59.8 million.
The company sold 23 million shares of its common stock at $2.60 per share. The total number of shares includes the full exercise by the underwriters of the over-allotment option to purchase 3 million shares. The price per share is identical to the closing share price on Feb. 9.
Array said net proceeds totaled $56.1 million.
Jefferies & Co., Inc. and Leerink Swann LLC were the joint bookrunners, and Stifel Nicolaus Weisel was the co-manager.
Proceeds will be used for research and development efforts, including clinical trials, and general corporate purposes.
Array is a Boulder, Colo.-based biopharmaceutical company focused on small-molecule drugs to treat patients afflicted with cancer and inflammatory diseases.
| Issuer: | Array BioPharma Inc.
|
| Issue: | Common stock
|
| Amount: | $59.8 million
|
| Shares: | 23 million (including 3 million from greenshoe exercise)
|
| Price: | $2.60
|
| Warrants: | No
|
| Bookrunners: | Jefferies & Co., Inc. and Leerink Swann LLC (joint bookrunners); Stifel Nicolaus Weisel (co-manager)
|
| Announcement date: | Feb. 8
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| Settlement date: | Feb. 14
|
| Stock symbol: | Nasdaq: ARRY
|
| Stock price: | $2.71 at close Feb. 13
|
| Market capitalization: | $236.74 million
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