Nashville, Sept. 27 - Sunesis Pharmaceuticals Inc. priced its initial public offering of 6 million common shares at $7 per share, below the proposed guidance of $9 to $11, via joint bookrunners Lehman Brothers and S.G. Cowen & Co.
South San Francisco, Calif.-based Sunesis develops small molecule therapeutics for oncology, inflammatory diseases and other conditions.
Proceeds, estimated at $42 million before fees and commissions, will be used to fund clinical trials, to repay debt, for working capital, for capital expenditures and for general corporate purposes.
| Issuer: | Sunesis Pharmaceuticals Inc.
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| Issue: | Initial public offering of stock
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| Gross proceeds: | $42 million
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| Shares: | 6 million
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| Greenshoe: | 900,000 shares
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| Price: | $7 per share
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| Price range: | $9 to $11
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| Bookrunners: | Lehman Brothers and S.G. Cowen & Co.
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| Co-manager: | Needham & Co.
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Ticker: | SNSS
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