Company sells common stock at $4.00 per share through JMP Securities
By Devika Patel
Knoxville, Tenn., Sept. 8 - Raptor Pharmaceutical Corp. said it priced its $40 million public offering of stock with a $6 million greenshoe. The deal was announced Sept. 7.
The company will sell 10 million common shares at $4.00 apiece, which is an 8.05% discount to the Sept. 7 closing share price of $4.35.
Settlement is expected Sept. 13.
JMP Securities LLC is the bookrunning manager, and Canaccord Genuity and Cowen and Co. are co-lead managers.
Proceeds will be used for the company's commercial and pre-commercial efforts, clinical and preclinical development programs and other general corporate activities.
Raptor is a Novato, Calif., biotechnology company that bioengineers novel drugs and drug-targeting platforms derived from the human receptor-associated protein and related proteins.
| Issuer: | Raptor Pharmaceutical Corp.
|
| Issue: | Common stock
|
| Amount: | $40 million
|
| Greenshoe: | $6 million
|
| Shares: | 10 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Managers: | JMP Securities LLC (bookrunner); Canaccord Genuity and Cowen and Co. (co-lead managers)
|
| Announcement date: | Sept. 7
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Stock symbol: | Nasdaq: RPTP
|
| Stock price: | $4.35 at close Sept. 7
|
| Market capitalization: | $145.3 million
|
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