Bookrunners Citigroup Global Markets and Cowen assist with financing
By Devika Patel
Knoxville, Tenn., Nov. 17 – Loxo Oncology, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $9,937,500 greenshoe in full, lifting total proceeds of the offering to $76.19 million. The deal was announced Nov. 10 and priced for $66.25 million with the greenshoe on Nov. 11.
The company sold 2,875,000 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. Of the shares, 375,000 were part of the fully exercised greenshoe.
Citigroup Global Markets Inc. and Cowen and Co., LLC were the bookrunners.
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: | $76,187,500, including $9,937,500 greenshoe of 375,000 shares
|
| Shares: | 2,875,000
|
| 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: | $578.31 million
|
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