Maxim Group and Roth Capital Partners were the joint bookrunners
By Devika Patel
Knoxville, Tenn., Sept. 18 – Intec Pharma Ltd. said the underwriters for its initial public offering of stock opted to exercise the deal’s $4.52 million greenshoe in part, lifting total proceeds of the offering to $33.98 million. The deal was announced June 9 and priced for $30.15 million with the greenshoe on Aug. 4.
The company sold 5,663,750 ordinary shares at $6.00 apiece. Of the shares, 638,750 were part of the partially exercised greenshoe.
Maxim Group LLC and Roth Capital Partners, LLC were the bookrunners.
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.
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| Issue: | Ordinary stock
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| Amount: | $33,982,500, including $3,832,500 greenshoe of 638,750 shares
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| Shares: | 5,663,750
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| Price: | $6.00
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| Warrants: | No
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| Bookrunners: | Maxim Group LLC and Roth Capital Partners, LLC
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| Announcement date: | June 9
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| Pricing date: | Aug. 4
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| Settlement date: | Sept. 18
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| Stock exchange: | Nasdaq: NTEC
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