Company to sell stock through bookrunners Jefferies and Piper Jaffray
By Devika Patel
Knoxville, Tenn., Jan. 28 – Flex Pharma, Inc. said it priced its $86.4 million initial public offering of stock with a $12 million greenshoe. The deal was announced Dec. 29.
The company will sell 5.4 million common shares at $16.00 apiece.
Jefferies LLC and Piper Jaffray & Co. are the bookrunning managers.
Proceeds will be used for research and development, sales and marketing, working capital and general corporate purposes.
The biotechnology company is based in Boston. The company expects its shares will trade on the Nasdaq under the symbol “FLKS.”
| Issuer: | Flex Pharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $86.4 million
|
| Greenshoe: | $12 million
|
| Shares: | 5.4 million
|
| Price: | $16.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Piper Jaffray & Co.
|
| Lead manager: | JMP Securities LLC
|
| Co-managers: | Cantor Fitzgerald & Co. and Roth Capital Partners, LLC
|
| Announcement date: | Dec. 29
|
| Pricing date: | Jan. 28
|
| Stock symbol: | Nasdaq: FLKS
|
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