Aegis and Jeffries help finance clinical development of SL-401, SL-701
By Devika Patel
Knoxville, Tenn., May 23 - Stemline Therapeutics, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $9 million greenshoe in full for total proceeds of $69 million. The offering was announced as a $50 million sale on May 13 and priced for $60 million with the $9 million greenshoe on May 16.
The company sold 4,758,620 common shares at $14.50 per share. The price per share is a 4.92% discount to the May 15 closing share price of $15.25. Of the shares, 620,689 were part of the fully exercised greenshoe.
Aegis Capital Corp. and Jefferies LLC were the joint bookrunning managers.
Settlement is expected May 28.
Proceeds will be used for clinical development of SL-401 and SL-701 and other general corporate purposes.
Based in New York, Stemline is a clinical stage biopharmaceutical company.
| Issuer: | Stemline Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $69 millon (including $9 million greenshoe)
|
| Shares: | 4,758,620
|
| Price: | $14.50
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Aegis Capital Corp.
|
| Co-lead manager: | Roth Capital Partners
|
| Announcement date: | May 13
|
| Pricing date: | May 16
|
| Settlement date: | May 28
|
| Stock symbol: | Nasdaq: STML
|
| Stock price: | $15.25 at close May 15
|
| Market capitalization: | $114.97 million
|
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