Bookrunner Jefferies helps raise proceeds for research and development
By Devika Patel
Knoxville, Tenn., Nov. 29 - Progenics Pharmaceuticals, Inc. said it priced a $22 million public sale of stock with a $3.3 million greenshoe. The deal was announced on Wednesday.
The company will sell 11 million common shares at $2.00 per share. The price per share is a 6.54% discount to the Nov. 28 closing share price of $2.11.
Jefferies & Co, Inc. is the bookrunning manager.
Settlement is expected on Dec. 4.
Proceeds will be used for research and development and general corporate purposes.
Progenics, based in Tarrytown, N.Y., is a biopharmaceutical company.
| Issuer: | Progenics Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $22 million
|
| Greenshoe: | $3.3 million
|
| Shares: | 11 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Bookrunner: | Jefferies & Co, Inc.
|
| Announcement date: | Nov. 28
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 4
|
| Stock symbol: | Nasdaq: PGNX
|
| Stock price: | $2.11 at close Nov. 28
|
| Market capitalization: | $78 million
|
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