Published on 7/16/2015 in the Prospect News PIPE Daily.
NeuroDerm prices $66.89 million public offering of its stock at $17.00
Bookrunners Jefferies and Cowen help fund clinical trials, research
By Devika Patel
Knoxville, Tenn., July 16 – NeuroDerm Ltd. said it priced a $66.89 million public sale of stock with a $10.03 million greenshoe on Wednesday. The deal was announced July 2.
The company will sell 3,934,520 ordinary shares at $17.00 apiece. The price per share is a 6.32% premium to the July 14 closing share price of $15.99.
Jefferies LLC and Cowen and Co., LLC are the bookrunning managers.
Proceeds will be used for clinical trials, research and development, working capital and general corporate purposes.
The clinical-stage pharmaceutical company is based in Rehovot, Israel.
Issuer: | NeuroDerm Ltd.
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Issue: | Ordinary shares
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Amount: | $66,886,840
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Greenshoe: | $10,033,026, or 590,178 shares
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Shares: | 3,934,520
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Price: | $17.00
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Warrants: | No
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Bookrunners: | Jefferies LLC and Cowen and Co., LLC
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Co-managers: | Raymond James & Associates, Inc. and Roth Capital Partners, LLC
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Announcement date: | July 2
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Pricing date: | July 15
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Stock symbol: | Nasdaq: NDRM
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Stock price: | $15.99 at close July 14
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Market capitalization: | $320.39 million
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