Bookrunners Citigroup Global Markets and Cowen assist with financing
By Devika Patel
Knoxville, Tenn., Nov. 12 – Loxo Oncology, Inc. said it priced a $66.25 million public offering of stock with a $9.94 million greenshoe on Wednesday. The deal was announced Tuesday.
The company will sell 2.5 million common shares at $26.50 per share. The price per share is a 5.15% discount to the Nov. 10 closing share price of $27.94.
Citigroup Global Markets Inc. and Cowen and Co., LLC are the bookrunners.
Settlement is expected Nov. 17.
Proceeds will be used for general corporate purposes.
The Stamford, Conn., company develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations.
| Issuer: | Loxo Oncology, Inc.
|
| Issue: | Common stock
|
| Amount: | $66.25 million
|
| Greenshoe: | $9,937,500, or 375,000 shares
|
| Shares: | 2.5 million
|
| Price: | $26.50
|
| Warrants: | No
|
| Bookrunners: | Citigroup Global Markets Inc. and Cowen and Co., LLC
|
| Joint lead manager: | Stifel
|
| Co-managers: | Oppenheimer & Co. Inc. and Trout Capital LLC
|
| Announcement date: | Nov. 10
|
| Pricing date: | Nov. 11
|
| Settlement date: | Nov. 17
|
| Stock symbol: | Nasdaq: LOXO
|
| Stock price: | $27.94 at close Nov. 10
|
| Market capitalization: | $458.57 million
|
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