Bookrunner Jefferies helps raise proceeds for research and development
By Devika Patel
Knoxville, Tenn., March 4 - Progenics Pharmaceuticals, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $5.25 million greenshoe in full, lifting total proceeds to $40.25 million. The deal was announced Feb. 20 and priced for $35 million with the greenshoe on Feb. 21.
The company sold 8.75 million 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. Of the shares, 1,141,304 were part of the fully exercised greenshoe.
Jefferies LLC was the bookrunner.
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: | $40.25 million, including $5.25 million greenshoe
|
| Shares: | 8.75 million
|
| 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: | March 4
|
| Stock symbol: | Nasdaq: PGNX
|
| Stock price: | $4.90 at close Feb. 20
|
| Market capitalization: | $287.23 million
|
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