Versartis intends to price public sale of 3,949,447 shares at $18.99

Deal offers stock through bookrunners Citigroup, Credit Suisse, Cowen

By Devika Patel

Knoxville, Tenn., Jan. 21 – Versartis, Inc. will sell 3,949,447 common shares in its public offering with a 30-day greenshoe of 592,417 additional shares, according to a Form S-1/A filed Wednesday with the Securities and Exchange Commission. The company announced on Tuesday that it planned to raise $75 million in the offering with an $11.25 million greenshoe. It has registered the entire $86.25 million of stock for the sale.

The shares will be sold at an assumed price of $18.99.

Citigroup, Credit Suisse and Cowen and Co. are the bookrunning managers. Canaccord Genuity and SunTrust Robinson Humphrey are the co-managers.

Proceeds will be used for clinical development, working capital, capital expenditures and other general corporate purposes, including acquisitions.

The endocrine-focused biopharmaceutical company is based in Redwood City, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.