Citi, Cowen, Piper Jaffray lead; funds development, preclinical programs
By Devika Patel
Knoxville, Tenn., June 1 – Reata Pharmaceuticals, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $9.08 million greenshoe in full, lifting total proceeds of the offering to $69.58 million. The deal was announced Jan. 4 and priced for $60.5 million with the greenshoe on May 25.
The company sold 6,325,000 class A common shares at $11.00 apiece. Of the shares, 825,000 were part of the fully exercised greenshoe.
Citigroup, Cowen and Co. and Piper Jaffray were 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
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| Amount: | $69,575,000, including $9,075,000 greenshoe of 825,000 shares
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| Shares: | 6,325,000
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| Price: | $11.00
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| Warrants: | No
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| Bookrunners: | Citigroup, Cowen and Co. and Piper Jaffray
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| Announcement date: | Jan. 4
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| Pricing date: | May 25
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| Settlement date: | June 1
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| Stock exchange: | Nasdaq: RETA
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