Offering conducted by BofA Merrill Lynch and Credit Suisse Securities
By Devika Patel
Knoxville, Tenn., May 6 - Vital Therapies, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $8.1 million greenshoe in full for total proceeds of $62.1 million. The deal priced for $54 million with the greenshoe on April 16.
The company sold 5,175,000 common shares at $12.00 apiece. Of the shares, 675,000 were part of the fully exercised greenshoe.
BofA Merrill Lynch and Credit Suisse Securities (USA) LLC were the joint bookrunners.
Proceeds will be used for clinical trials and operations.
The biotherapeutic company is based in San Diego. It expects the shares to trade on the Nasdaq under the symbol "VTL."
| Issuer: | Vital Therapies, Inc.
|
| Issue: | Common stock
|
| Amount: | $62.1 million (including $8.1 million greenshoe)
|
| Shares: | 5,175,000
|
| Price: | $12.00
|
| Bookrunners: | BofA Merrill Lynch and Credit Suisse Securities (USA) LLC
|
| Co-managers: | William Blair & Co., LLC and Canaccord Genuity Inc.
|
| Warrants: | No
|
| Pricing date: | April 16
|
| Settlement date: | May 6
|
| Stock exchange: | Nasdaq: VTL
|
© 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.
