Deal with $5.25 million greenshoe conducted by Chardan Capital Markets
By Devika Patel
Knoxville, Tenn., May 15 - Rockwell Medical, Inc. priced a $35 million public sale of stock with a $5.25 million greenshoe in a free writing prospectus filed Wednesday with the Securities and Exchange Commission. The deal was announced Tuesday.
The company will sell 11,475,410 common shares at $3.05 apiece. The price per share is a 15.04% discount to the May 14 closing share price of $3.59.
Chardan Capital Markets, LLC is the sole bookrunning manager.
Settlement is expected May 20.
Proceeds will be used for clinical trials and other general corporate purposes.
Based in Wixom, Mich., Rockwell is a biopharmaceutical company targeting end-stage renal disease and chronic kidney disease.
| Issuer: | Rockwell Medical, Inc.
|
| Issue: | Common shares
|
| Amount: | $35 million
|
| Greenshoe: | $5.25 million
|
| Shares: | 11,475,410
|
| Price: | $3.05
|
| Warrants: | No
|
| Bookrunner: | Chardan Capital Markets, LLC
|
| Lead manager: | Summer Street Research Partners
|
| Co-manager: | C&Co/Prince Ridge LLC
|
| Announcement date: | May 14
|
| Pricing date: | May 15
|
| Settlement date: | May 20
|
| Stock symbol: | Nasdaq: RMTI
|
| Stock price: | $3.59 at close May 14
|
| Market capitalization: | $87.92 million
|
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