Lazard, Cowen, BMO Capital Markets, Needham, Wedbush assist with deal
By Devika Patel
Knoxville, Tenn., July 17 - Regulus Therapeutics Inc. said it priced a $42.75 million public offering of stock with a $6.41 million greenshoe. The offering was announced on June 26.
The company will sell 4.5 million common shares at $9.50 per share. The price per share reflects an 11.13% discount to the July 16 closing share price of $10.69.
Lazard Capital Markets LLC, Cowen and Co., LLC and BMO Capital Markets Corp. are the joint bookrunning underwriters.
Settlement is expected on July 22.
Proceeds will be used for preclinical and clinical development of RG-101 and other initial microRNA development candidates, for identification and validation of additional microRNA targets and for capital expenditures, working capital and other general corporate purposes.
The biopharmaceutical company focused on drugs that target microRNAs is based in San Diego.
| Issuer: | Regulus Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $42.75 million
|
| Greenshoe: | $6,412,500
|
| Shares: | 4.5 million
|
| Price: | $9.50
|
| Warrants: | No
|
| Bookrunners: | Lazard Capital Markets LLC, Cowen and Co., LLC and BMO Capital Markets Corp.
|
| Co-managers: | Needham & Co., LLC and Wedbush PacGrow Life Sciences
|
| Announcement date: | June 26
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Stock symbol: | Nasdaq: RGLS
|
| Stock price: | $10.69 at close July 16
|
| Market capitalization: | $362.95 million
|
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