Funds used for product development, clinical trials, working capital
By Devika Patel
Knoxville, Tenn., Jan. 9 - Receptos, Inc. said it priced a $102.09 million public offering of stock with a $15.31 million greenshoe on Wednesday. The deal was announced Dec. 31.
The company will sell 3.32 million common shares at $30.75 apiece. The price per share is a 2.4% premium to the Jan. 7 closing share price of $30.03.
Credit Suisse Securities (USA) LLC, Leerink Partners LLC and BMO Capital Markets are the joint bookrunners.
Settlement is expected Jan. 14.
Proceeds will be used for product development, clinical trials, preclinical and research programs, working capital and other general corporate purposes.
The biopharmaceutical company is based in San Diego.
| Issuer: | Receptos, Inc.
|
| Issue: | Common stock
|
| Amount: | $102.09 million
|
| Greenshoe: | $15,313,500
|
| Shares: | 3.32 million
|
| Price: | $30.75
|
| Warrants: | No
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Leerink Partners LLC and BMO Capital Markets
|
| Co-manager: | Wedbush PacGrow Life Sciences
|
| Announcement date: | Dec. 31
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 14
|
| Stock symbol: | Nasdaq: RCPT
|
| Stock price: | $30.03 at close Jan. 7
|
| Market capitalization: | $639.04 million
|
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