Company sells common stock at $4.00 per share through JMP Securities
By Devika Patel
Knoxville, Tenn., Sept. 13 - Raptor Pharmaceutical Corp. said it settled a $46 million public offering of stock. The deal was announced Sept. 7 and priced for $40 million with a $6 million greenshoe on Sept. 8.
The company sold 11.5 million common shares at $4.00 apiece, which is an 8.05% discount to the Sept. 7 closing share price of $4.35. Of the shares, 1.5 million were part of the fully exercised greenshoe.
JMP Securities LLC was the bookrunning manager and Canaccord Genuity and Cowen and Co. were 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: | $46 million (including $6 million greenshoe exercise)
|
| Shares: | 11.5 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunner: | JMP Securities LLC
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| Announcement date: | Sept. 7
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 13
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| Stock symbol: | Nasdaq: RPTP
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| Stock price: | $4.35 at close Sept. 7
|
| Market capitalization: | $140.11 million
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