Jefferies, Barclays are bookrunners; Cantor Fitzgerald is lead manager
By Devika Patel
Knoxville, Tenn., May 12 – Oncobiologics, Inc. said it priced its $35 million initial public offering of units with a $5.25 million greenshoe. The deal was announced as a stock offering on Jan. 15.
The company will sell 5,833,334 units of one common share and two half-share warrants at $6.00 per unit. Each whole series A warrant is exercisable at $6.60, and each whole series B warrant is exercisable at $8.50.
Existing stockholder Sabby Healthcare Master Fund, Ltd. will buy 833,332 units at the initial public offering price in a $5 million private placement that would settle concurrently with this offering.
Jefferies LLC and Barclays Capital Inc. are the bookrunners.
Settlement is expected May 18.
Proceeds will be used for clinical trials, research, working capital and general corporate purposes.
The biopharmaceutical company is based in Cranbury, N.J. The company intends to list its common stock on the Nasdaq stock exchange under the symbol “ONS.”
| Issuer: | Oncobiologics, Inc.
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| Issue: | Units of one common share and two half-share warrants
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| Amount: | $35 million
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| Greenshoe: | $5.25 million, or 875,000 units
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| Units: | 5,833,334
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| Price: | $6.00
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| Warrants: | Two half-share warrants per unit
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| Warrant strike price: | $6.60 (A), $8.50 (B)
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| Bookrunners: | Jefferies LLC and Barclays Capital Inc.
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| Lead manager: | Cantor Fitzgerald & Co.
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| Announcement date: | Jan. 15
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| Pricing date: | May 12
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| Settlement date: | May 18
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| Stock symbol: | Nasdaq: ONS
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