ADSs representing 1/13.25 of ordinary share sold through Piper Jaffray
By Devika Patel
Knoxville, Tenn., April 24 – Innocoll AG said it priced its $29.9 million public and secondary offering of American Depositary Shares. The sale was announced April 10.
The deal will sell 3,321,669 ADSs at $9.00 apiece. The price per ADS reflects a 4.41% premium to the April 23 closing share price of $8.62. Of the ADSs, 1,999,690 are being offered by the company, and 1,321,979 are being offered by selling shareholders.
Each ADS represents 1/13.25 of an ordinary share.
Piper Jaffray & Co. is the manager.
Settlement is expected April 30.
Proceeds will be used for product development and general corporate purposes.
The pharmaceutical company is based in Athlone, Ireland.
| Issuer: | Innocoll AG
|
| Issue: | American Depositary Shares
|
| Amount: | $29,895,021
|
| Shares: | 3,321,669
|
| Price: | $9.00
|
| Warrants: | No
|
| Manager: | Piper Jaffray & Co.
|
| Announcement date: | April 10
|
| Pricing date: | April 24
|
| Settlement date: | April 30
|
| Stock symbol: | Nasdaq: INNL
|
| Stock price: | $8.62 at close April 23
|
| Market capitalization: | $210.69 million
|
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