BofA Merrill Lynch will be the bookrunning manager for the offering
By Devika Patel
Knoxville, Tenn., Oct. 23 – Vital Therapies, Inc. said it priced a $30 million public offering of stock with a $2.25 million greenshoe. The deal was announced on Thursday and priced a few hours later.
The company will sell 5,454,546 common shares at $5.50 per share, which is a 5.82% discount to the Oct. 21 closing share price of $5.84.
BofA Merrill Lynch is the bookrunning manager.
Settlement is expected Oct. 28.
Proceeds will be used for clinical development of the ELAD System, working capital and other general corporate purposes.
The biotherapeutic company is based in San Diego.
| Issuer: | Vital Therapies, Inc.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Greenshoe: | $2.25 million, or 750,000 shares and 450,000 warrants
|
| Shares: | 5,454,546
|
| Price: | $5.50
|
| Warrants: | No
|
| Bookrunner: | BofA Merrill Lynch
|
| Announcement date: | Oct. 22
|
| Pricing date: | Oct. 22
|
| Settlement date: | Oct. 28
|
| Stock symbol: | Nasdaq: VTL
|
| Stock price: | $5.84 at close Oct. 21
|
| Market capitalization: | $160.33 million
|
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