Bookrunner Jefferies raises proceeds for research and development
By Devika Patel
Knoxville, Tenn., July 16 -The underwriters for Progenics Pharmaceuticals Inc.'s public offering of stock opted to exercise the deal's $5.61 million greenshoe in full on July 16, for total proceeds of $43.01 million, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal was announced June 19 and priced for $37.4 million with the greenshoe on June 20.
The company sold 9,775,000 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. Of the shares, 1,275,000 were part of the fully exercised greenshoe.
Jefferies LLC was the bookrunning manager.
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: | $43.01 million (including $5.61 million greenshoe)
|
| Shares: | 9,775,000
|
| 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: | July 16
|
| Stock symbol: | Nasdaq: PGNX
|
| Stock price: | $4.80 at close June 19
|
| Market capitalization: | $211.69 million
|
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