Bookrunner Jefferies helps raise proceeds for research and development
By Devika Patel
Knoxville, Tenn., Feb. 21 - Progenics Pharmaceuticals, Inc. said it priced a $35 million public offering of stock with a $5.25 million greenshoe. The deal was announced Thursday.
The company will sell 7,608,696 common shares at $4.60 per share. The price per share is a 6.12% discount to the Feb. 20 closing share price of $4.90.
Jefferies LLC is the bookrunner.
Settlement is expected Feb. 26.
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: | $35 million
|
| Greenshoe: | $5,249,998
|
| Shares: | 7,608,696
|
| Price: | $4.60
|
| Warrants: | No
|
| Bookrunner: | Jefferies LLC
|
| Co-managers: | Needham & Co., LLC and Brean Capital, LLC
|
| Announcement date: | Feb. 20
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Stock symbol: | Nasdaq: PGNX
|
| Stock price: | $4.90 at close Feb. 20
|
| Market capitalization: | $286.02 million
|
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