Maxim Group and Roth Capital Partners will be the joint bookrunners
By Devika Patel
Knoxville, Tenn., Aug. 4 – Intec Pharma Ltd. said it priced its $30.15 million initial public offering of stock with a $4.52 million greenshoe. The deal was announced June 9.
The company will sell 5,025,000 ordinary shares at $6.00 apiece.
Maxim Group LLC and Roth Capital Partners, LLC are the bookrunners.
Settlement is expected Aug. 7.
Proceeds will be used for a phase III clinical trial for and continued development of AP-CDLD, working capital, capital expenditures and other general corporate purposes, including a phase I clinical trial for an early-stage pipeline product expected to start in the second half of 2015.
The biopharmaceutical company is based in Jerusalem. The company intends to list its common stock on the Nasdaq under the symbol “NTEC.”
| Issuer: | Intec Pharma Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | $30.15 million
|
| Greenshoe: | $4,522,500, or 753,750 shares
|
| Shares: | 5,025,000
|
| Price: | $6.00
|
| Warrants: | No
|
| Bookrunners: | Maxim Group LLC and Roth Capital Partners, LLC
|
| Announcement date: | June 9
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 7
|
| Stock exchange: | Nasdaq: NTEC
|
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