Citi, Cowen, Piper Jaffray lead; funds development, preclinical programs
By Devika Patel
Knoxville, Tenn., May 26 – Reata Pharmaceuticals, Inc. said on Wednesday that it priced its $60.5 million initial public offering of stock with a $9.08 million greenshoe. The deal was announced Jan. 4.
The company will sell 5.5 million class A common shares at $11.00 apiece.
Citigroup, Cowen and Co. and Piper Jaffray are the bookrunners.
Proceeds will be used for development of bardoxolone methyl, development of RTA 408, preclinical programs, working capital and other general corporate purposes.
The biopharmaceutical company is based in Irving, Texas. The company intends to list its stock on the Nasdaq stock exchange under the symbol “RETA.”
| Issuer: | Reata Pharmaceuticals, Inc.
|
| Issue: | Class A common stock
|
| Amount: | $60.5 million
|
| Greenshoe: | $9,075,000, or 825,000 shares
|
| Shares: | 5.5 million
|
| Price: | $11.00
|
| Warrants: | No
|
| Bookrunners: | Citigroup, Cowen and Co. and Piper Jaffray
|
| Announcement date: | Jan. 4
|
| Pricing date: | May 25
|
| Settlement date: | June 1
|
| Stock exchange: | Nasdaq: RETA
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
