Financing to be conducted by Cowen, Stifel, Baird and H.C. Wainwright
By Devika Patel
Knoxville, Tenn., June 23 – Nivalis Therapeutics, Inc. said the underwriters for its initial public sale of stock opted to exercise the deal’s $11.55 million greenshoe in full, lifting total proceeds of the offering to $88.55 million. The deal was announced May 13 and priced for $77 million with the greenshoe on June 17.
The company sold 6,325,000 common shares at $14.00 per share. Of the shares, 825,000 were part of the fully exercised greenshoe.
Cowen and Co. LLC and Stifel, Nicolaus & Co., Inc. were the bookrunners.
Proceeds will be used for clinical programs and development activities and for working capital and other general corporate purposes, including operations.
The clinical-stage pharmaceutical company is based in Boulder, Colo. The company intends to list its common stock on the Nasdaq under the symbol “NVLS.”
| Issuer: | Nivalis Therapeutics, Inc.
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| Issue: | Common stock
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| Amount: | $88.5 million, including $11.55 million greenshoe of 825,000 shares
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| Shares: | 6,325,000
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| Price: | $14.00
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| Warrants: | No
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| Bookrunners: | Cowen and Co. LLC and Stifel, Nicolaus & Co., Inc.
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| Co-managers: | Robert W. Baird & Co. Inc. and H.C. Wainwright & Co., LLC
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| Announcement date: | May 13
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| Pricing date: | June 17
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| Settlement date: | June 23
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| Stock symbol: | Nasdaq: NVLS
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