BofA Merrill Lynch was the bookrunning manager for the offering
By Devika Patel
Knoxville, Tenn., Oct. 28 – Vital Therapies, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $5 million greenshoe in full, lifting total proceeds of the offering to $35 million. The deal was announced Oct. 22 and priced for $30 million with the greenshoe a few hours later.
The company sold 6,272,727 common shares at $5.50 per share, which is a 5.82% discount to the Oct. 21 closing share price of $5.84. Of the shares, 818,181 were part of the fully exercised greenshoe.
BofA Merrill Lynch was the bookrunning manager.
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: | $35 million, including $5 million greenshoe of 818,181 shares
|
| Shares: | 6,272,727
|
| 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: | $266.99 million
|
|
|
© 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.
