Piper Jaffray and Leerink Partners help fund research and development
By Devika Patel
Knoxville, Tenn., July 17 – Trovagene Inc. said it priced a $35 million public offering of stock with a $5.25 million greenshoe. The offering was announced Thursday.
The company will sell 4 million common shares at $8.75 per share. The price per share reflects a 13.62% discount to the July 16 closing share price of $10.13.
Piper Jaffray & Co. and Leerink Partners LLC are the bookrunners.
Settlement is expected July 22.
Proceeds will be used for research and development, working capital and general corporate purposes.
Trovagene is a molecular diagnostic company based in San Diego, Calif.
| Issuer: | Trovagene Inc.
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| Issue: | Common stock
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| Amount: | $35 million
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| Greenshoe: | $5.25 million, or 600,000 shares
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| Shares: | 4 million
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| Price: | $8.75
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| Warrants: | No
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| Bookrunners: | Piper Jaffray & Co. and Leerink Partners LLC
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| Co-managers: | Janney Montgomery Scott LLC, Cantor Fitzgerald & Co. and Maxim Group LLC
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| Announcement date: | July 16
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| Pricing date: | July 17
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| Settlement date: | July 22
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| Stock symbol: | NYSE: TROV
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| Stock price: | $10.13 at close July 16
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| Market capitalization: | $222.63 million
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