Stifel and BMO Capital are bookrunners; JMP, Wedbush PacGrow to assist
By Devika Patel
Knoxville, Tenn., Sept. 24 – Vitae Pharmaceuticals, Inc. said it priced its $55 million initial public offering of stock with an $8.25 million greenshoe. The deal was announced Aug. 12.
The company will sell 6,875,000 common shares at $8.00 apiece.
Stifel and BMO Capital Markets are the joint bookrunning managers.
Proceeds will be used for clinical trials, drug discovery, debt maintenance, working capital and other general corporate purposes.
The clinical-stage biotechnology company is based in Fort Washington, Pa. The company intends to list its common stock on the Nasdaq under the symbol “VTAE.”
| Issuer: | Vitae Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $55 million
|
| Greenshoe: | $8.25 million
|
| Shares: | 6,875,000
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunners: | Stifel and BMO Capital Markets
|
| Co-managers: | JMP Securities and Wedbush PacGrow Life Sciences
|
| Investors: | BB Biotech AG, Brookside Capital Partners Fund, LP and F2 Ventures
|
| Announcement date: | Aug. 12
|
| Pricing date: | Sept. 24
|
| Stock exchange: | Nasdaq: VTAE
|
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