Bookrunner Jefferies raises proceeds for research and development
By Devika Patel
Knoxville, Tenn., June 20 - Progenics Pharmaceuticals Inc. said it priced a $37.4 million public offering of stock with a $5.61 million greenshoe. The deal was announced Wednesday.
The company will sell 8.5 million common shares at $4.40 per share. The price per share is an 8.33% discount to the June 19 closing share price of $4.80.
Jefferies LLC is the bookrunning manager.
Settlement is expected June 25.
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: | $37.4 million
|
| Greenshoe: | $5.61 million
|
| Shares: | 8.5 million
|
| Price: | $4.40
|
| Warrants: | No
|
| Bookrunner: | Jefferies LLC
|
| Co-managers: | Needham & Co., LLC, Stifel and Brean Capital, LLC
|
| Announcement date: | June 19
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Stock symbol: | Nasdaq: PGNX
|
| Stock price: | $4.80 at close June 19
|
| Market capitalization: | $219.34 million
|
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