Bookrunners Citigroup and Cowen conduct financing; Stifel will assist
By Devika Patel
Knoxville, Tenn., May 12 – Loxo Oncology, Inc. said it priced its $36.01 million public sale of stock with a $5.4 million greenshoe on Wednesday. The offering was announced Wednesday.
The company will sell 1,675,000 common shares at $21.50 per share. The price per share reflects a 9.32% discount to the May 10 closing share price of $23.71.
Citigroup and Cowen and Co. are the bookrunners.
Settlement is expected May 17.
Proceeds will be used for general corporate purposes, including research and development, working capital, acquisitions and investments.
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: | $36,012,500
|
| Greenshoe: | $5,401,875, or 251,250 shares
|
| Shares: | 1,675,000
|
| Price: | $21.50
|
| Warrants: | No
|
| Bookrunners: | Citigroup and Cowen and Co.
|
| Joint lead manager: | Stifel
|
| Announcement date: | May 11
|
| Pricing date: | May 11
|
| Settlement date: | May 17
|
| Stock symbol: | Nasdaq: LOXO
|
| Stock price: | $23.71 at close May 10
|
| Market capitalization: | $443.05 million
|
|
|
|
|
© 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.
