BMO Capital Markets, Stifel, William Blair will be joint bookrunners
By Devika Patel
Knoxville, Tenn., Sept. 17 – Tokai Pharmaceuticals Inc. said it priced its $97.2 million initial public offering of stock with a $14.58 million greenshoe. The deal was announced Aug. 11.
The company will sell 6.48 million common shares at $15.00 apiece.
BMO Capital Markets, Stifel and William Blair are the joint bookrunning managers.
Proceeds will be used for clinical trials, research, working capital and other general corporate purposes.
The biopharmaceutical company is based in Cambridge, Mass. The company intends to list its common stock on the Nasdaq under the symbol “TKAI.”
| Issuer: | Tokai Pharmaceuticals Inc.
|
| Issue: | Common stock
|
| Amount: | $97.2 million
|
| Greenshoe: | $14.58 million
|
| Shares: | 6.48 million
|
| Price: | $15.00
|
| Warrants: | No
|
| Bookrunners: | BMO Capital Markets, Stifel and William Blair
|
| Co-manager: | Janney Montgomery Scott
|
| Announcement date: | Aug. 11
|
| Pricing date: | Sept. 17
|
| Stock exchange: | Nasdaq: TKAI
|
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