Bookrunner BofA Merrill raises funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., June 25 - Repros Therapeutics Inc. said the underwriters for its public sale of stock opted to exercise the deal's $10.69 million greenshoe in full for total proceeds of $81.94 million. The offering was announced June 17 and priced for $71.25 million with the greenshoe on June 20.
The company sold 4,312,500 common shares at $19.00 per share. The price per share is a 1.04% discount to the June 19 closing share price of $19.20. Of the shares, 562,500 were part of the fully exercised greenshoe.
BofA Merrill Lynch was the sole bookrunner.
Proceeds will be used for general corporate purposes, including clinical trials for Androxal and Proellex.
Repros Therapeutics develops drugs for the treatment of reproductive disorders. The company is based in The Woodlands, Texas.
| Issuer: | Repros Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $81,937,500 (including $10,687,500 greenshoe)
|
| Shares: | 4,312,500
|
| Price: | $19.00
|
| Warrants: | No
|
| Bookrunner: | BofA Merrill Lynch
|
| Co-managers: | Lazard Capital Markets LLC, Ladenburg Thalmann & Co. Inc. and Ascendiant Capital Markets, LLC
|
| Announcement date: | June 17
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Stock symbol: | Nasdaq: RPRX
|
| Stock price: | $19.20 at close June 19
|
| Market capitalization: | $308.73 million
|
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