Viking greenshoe exercised in $9.39 million sale of stock, warrants

Maxim Group was bookrunning manager, Feltl was lead manager for deal

By Devika Patel

Knoxville, Tenn., April 13 – Viking Therapeutics, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $1.41 million greenshoe in part, lifting total proceeds of the offering to $9.39 million. The deal priced for $9.38 million with the greenshoe on April 8.

The company sold 7.5 million common shares at $1.25 apiece.

Investors also received warrants for 8,625,000 shares. The warrants are each exercisable at $1.50 for five years. The strike price is a 22.28% discount to the April 7 closing share price of $1.93. The price per share is a 35.23% discount to that price.

Of the warrants, 1,125,000 were part of the partially exercised greenshoe, issued at $0.01 apiece.

Maxim Group LLC was the bookrunning manager.

The biopharmaceutical company is based in San Diego.

Issuer:	Viking Therapeutics, Inc.
Issue:	Common stock
Amount:	$9,386,250, including $11,250 greenshoe of 1,125,000 warrants at $0.01 apiece
Greenshoe:	1,125,000 shares remaining to be sold for $1,395,000
Shares:	7.5 million
Price:	$1.25
Warrants:	For 8,625,000 shares
Warrant expiration:	Five years
Warrant strike price:	$1.50
Bookrunner:	Maxim Group LLC
Lead manager:	Feltl and Co., Inc.
Pricing date:	April 8
Settlement date:	April 13
Stock symbol:	Nasdaq: VKTX
Stock price:	$1.93 at close April 7
Market capitalization:	$12.1 million

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