Offering will be conducted through bookrunning manager William Blair
By Devika Patel
Knoxville, Tenn., Feb. 5 - Agenus Inc. said it priced a $52.21 million public sale of stock with a $7.83 million greenshoe. The deal was announced Tuesday.
The company will sell 19,335,653 common shares at $2.70 per share. The price per share is a 6.9% discount to the Feb. 4 closing share price of $2.90.
William Blair & Co., LLC is the bookrunner.
Proceeds will be used to pay down debt and for general corporate and operations purposes.
Agenus is a Lexington, Mass., biotechnology company working to develop treatments for cancers and infectious diseases.
| Issuer: | Agenus Inc.
|
| Issue: | Common stock
|
| Amount: | $52,206,263
|
| Greenshoe: | $7,830,937
|
| Shares: | 19,335,653
|
| Price: | $2.70
|
| Warrants: | No
|
| Bookrunner: | William Blair & Co., LLC
|
| Lead manager: | Maxim Group LLC
|
| Co-managers: | H.C. Wainwright & Co., LLC and MLV & Co. LLC
|
| Announcement date: | Feb. 4
|
| Pricing date: | Feb. 5
|
| Stock symbol: | Nasdaq: AGEN
|
| Stock price: | $2.90 at close Feb. 4
|
| Market capitalization: | $99.14 million
|
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