Bookrunners Barclays, Cowen and Guggenheim Securities assist with deal
By Devika Patel
Knoxville, Tenn., April 20 – Foamix Pharmaceuticals Ltd. said the underwriters for its public sale of stock opted to exercise the deal’s $9 million greenshoe in full, lifting total proceeds of the offering to $69 million. The deal was announced April 1 and priced for $60 million with the greenshoe on April 15.
The company sold 7,419,353 shares at a price to the public of $9.30 per share, which is a 1.06% discount to the company’s $9.40 closing stock price on April 14. Of the shares, 967,741 were part of the fully exercised greenshoe.
Barclays, Cowen and Co. and Guggenheim Securities were the bookrunning managers.
Proceeds will be used for clinical trials, studies and general corporate proceeds, including product development and promotion.
The clinical-stage specialty pharmaceutical company is based in Rehovot, Israel.
| Issuer: | Foamix Pharmaceuticals Ltd.
|
| Issue: | Common stock
|
| Amount: | $69 million, including $9 million greenshoe
|
| Shares: | 7,419,353
|
| Price: | $9.30
|
| Warrants: | No
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| Bookrunners: | Barclays, Cowen and Co. and Guggenheim Securities
|
| Co-manager: | Oppenheimer & Co. Inc.
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| Announcement date: | April 1
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Stock symbol: | Nasdaq: FOMX
|
| Stock price: | $9.40 at close April 14
|
| Market capitalization: | $243.28 million
|
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