Xcyte Therapies greenshoe exercised, raising preferreds to $29.9 million

Pittsburgh, Nov. 3 - Xcyte Therapies Inc. said the underwriters of its recent offering of 6% convertible exchangeable preferred stock exercised their $3.9 million over-allotment option in full, raising the size of the deal to $29.9 million.

The Seattle biotechnology company originally priced $26 million of the preferreds on Oct. 29 to yield 6% with a 17.5% initial conversion premium.

Piper Jaffray & Co. was the bookrunner on the deal.

Xcyte will use proceeds for working capital and general corporate purposes.

© 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.