Leerink Partners, Wedbush PacGrow Life Sciences, BTIG assist with sale
By Devika Patel
Knoxville, Tenn., Jan. 30 – Epirus Biopharmaceuticals Inc. said it priced a $48 million public offering of stock with a $7.2 million greenshoe. The deal was announced Monday.
The company will sell 9.6 million common shares at $5.00 per share. The price per share is a 7.06% discount to the Jan. 29 closing share price of $5.38.
Leerink Partners LLC is the bookrunning manager.
Existing shareholders affiliated with insiders have indicated an interest in investing $4 million through the offering.
Settlement is expected Feb. 4.
Proceeds will be used to progress the company’s global BOW015 clinical program and for development of other product candidates, as well as general corporate and working capital purposes.
The biopharmaceutical company is based in Boston.
| Issuer: | Epirus Biopharmaceuticals Inc.
|
| Issue: | Common stock
|
| Amount: | $48 million
|
| Greenshoe: | $7.2 million
|
| Shares: | 9.6 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Bookrunner: | Leerink Partners LLC
|
| Lead manager: | Wedbush PacGrow Life Sciences
|
| Co-manager: | BTIG
|
| Announcement date: | Jan. 26
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 4
|
| Stock symbol: | Nasdaq: EPRS
|
| Stock price: | $5.38 at close Jan. 29
|
| Market capitalization: | $63.38 million
|
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