By Abigail W. Adams
Portland, Me., Dec. 10 – Hookipa Pharma priced $35 million, or 2,978 shares, of series A convertible preferred stock on Wednesday at a public offering price of $11,750, according to a 424B5 filing with the Securities and Exchange Commission.
Morgan Stanley & Co. LLC and SVB Leerink LLC were joint bookrunners and RBC Capital Markets Corp. lead manager for the registered offering.
The convertible preferred stock will carry the same dividend as the common stock.
The preferreds are freely convertible at a conversion rate of 1,000 provided holders would not own more than 9.99% of the outstanding common stock or 19.99% of the outstanding common stock upon 61-days’ notice to the company.
The convertible preferred stock priced concurrently with a secondary offering of 3.4 shares of common stock, which priced at $11.75.
Hookipa is a New York-based clinical stage biopharmaceutical company.
| Issuer: | Hookipa Pharma
|
| Securities: | Series A convertible preferred stock
|
| Amount: | $35 million, or 2,978 shares
|
| Maturity: | Perpetual
|
| Bookrunners: | Morgan Stanley & Co. LLC and SVB Leerink LLC
|
| Price: | $11,750
|
| Conversion rate: | 1,000
|
| Pricing date: | Dec. 10
|
| Distribution: | Registered
|
| Stock symbol: | Nasdaq: HOOK
|
| Stock price: | $11.75 in concurrent offering
|
| Market capitalization: | $307 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
