Deal funds clinical trials and development, general corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 10 - Retrophin, Inc. said it priced its $40 million public offering of stock with a $6 million greenshoe. The deal was announced Dec. 18.
The company will sell 4,705,882 common shares at $8.50 apiece. The per-share purchase price is identical to the closing share price on Jan. 9.
Jefferies LLC is the bookrunning manager.
Settlement is expected Jan. 15.
Proceeds will be used to obtain regulatory approval for the reintroduction of Syntocinon into the U.S. market, for clinical trials, to advance the company's early stage development programs, for product development and for general corporate purposes.
The biopharmaceutical company is based in New York.
| Issuer: | Retrophin, Inc.
|
| Issue: | Common stock
|
| Amount: | $40 million
|
| Greenshoe: | $6 million
|
| Shares: | 4,705,882
|
| Price: | $8.50
|
| Warrants: | No
|
| Bookrunner: | Jefferies LLC
|
| Co-managers: | Roth Capital Partners, Ladenburg Thalmann & Co. Inc. and Summer Street Research Partners
|
| Announcement date: | Dec. 18
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 15
|
| Stock symbol: | OTCBB: RTRX
|
| Stock price: | $8.50 at close Jan. 9
|
| Market capitalization: | $198.51 million
|
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