Piper Jaffray and Guggenheim are joint bookrunners; Needham assists
By Devika Patel
Knoxville, Tenn., Nov. 20 – Neothetics, Inc. said it priced its $65.1 million initial public offering of stock with a $9.77 million greenshoe. The deal was announced Oct. 17.
The company will sell 4.65 million common shares at $14.00 per share.
Piper Jaffray & Co. and Guggenheim Securities, LLC are the bookrunning managers.
Settlement is expected Nov. 25.
Proceeds will be used for clinical trials, development, working capital and other general corporate purposes.
The clinical-stage specialty pharmaceutical company is based in San Diego. It intends to list its common stock on the Nasdaq under the symbol “NEOT.”
| Issuer: | Neothetics, Inc.
|
| Issue: | Common stock
|
| Amount: | $65.1 million
|
| Greenshoe: | $9,765,000
|
| Shares: | 4.65 million
|
| Price: | $14.00
|
| Warrants: | No
|
| Bookrunners: | Piper Jaffray & Co. and Guggenheim Securities, LLC
|
| Co-manager: | Needham & Co.
|
| Announcement date: | Oct. 17
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Stock exchange: | Nasdaq: NEOT
|
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