Cowen, Stifel, Oppenheimer and JMP Securities to assist with offering
New York, Sept. 4 – Loxo Oncology, Inc. said the underwriters of its initial public offering partially exercised the greenshoe, raising the size of the sale to $76.75 million.
Loxo priced the IPO on Aug. 1, selling 5,261,538 common shares at $13.00 apiece for a total amount of $68.4 million.
The offering also had a greenshoe for $10.26 million. Of this, 642,000 shares or $8.35 million has been exercised, raising the total number of shares to 5,903,538.
Cowen and Co., LLC and Stifel are the joint bookrunning managers.
Proceeds will be used for clinical trials, research and development, working capital and general corporate purposes.
Concurrently with the offering, the company is also selling 230,769 shares at the same price through a private placement with New Enterprise Associates 14, LP.
The Stamford, Conn., company develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. The company listed its common stock on the Nasdaq under the symbol “LOXO.”
| Issuer: | Loxo Oncology, Inc.
|
| Issue: | Common stock
|
| Amount: | $76,745,994, increased from $68,399,994
|
| Greenshoe: | $10,259,990 ($8,346,000 exercised)
|
| Shares: | 5,903,538, increased from 5,261,538
|
| Price: | $13.00
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., LLC and Stifel
|
| Co-managers: | JMP Securities LLC and Oppenheimer & Co. Inc.
|
| Pricing date: | Aug. 1
|
| Stock exchange: | Nasdaq: LOXO
|
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