Piper Jaffray, Stifel are joint bookrunners; JMP Securities to assist
By Devika Patel
Knoxville, Tenn., July 25 – Innocoll AG said it priced its $58.5 million initial public sale of American Depositary Shares with an $8.78 million greenshoe. The deal was announced June 19.
The company will sell 6.5 million American Depositary Shares at $9.00 apiece. Each ADS represents 1/13.25 ordinary shares.
Piper Jaffray & Co. and Stifel are the joint bookrunners.
Settlement is expected July 30.
Proceeds will be used for development, expanding manufacturing infrastructure and general corporate purposes.
The pharmaceutical company is based in Athlone, Ireland. The company has applied to list the ADSs on the Nasdaq under the symbol “INNL.”
| Issuer: | Innocoll AG
|
| Issue: | American Depositary Shares
|
| Amount: | $58.5 million
|
| Greenshoe: | $8,775,000
|
| ADS: | 6.5 million
|
| Price: | $9.00
|
| Warrants: | No
|
| Bookrunners: | Piper Jaffray & Co. and Stifel
|
| Lead manager: | JMP Securities
|
| Announcement date: | June 19
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Stock exchange: | Nasdaq: INNL
|
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