Offering was conducted through bookrunning manager William Blair
By Devika Patel
Knoxville, Tenn., Feb. 10 - Agenus Inc. said the underwriters for its public sale of stock opted to exercise the deal's $7.83 million greenshoe in full, lifting total proceeds to $60.04 million. The deal was announced Feb. 4 and priced for $52.21 million with the greenshoe on Feb. 5.
The company sold 22,236,000 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. Of the shares, 2,900,347 were part of the fully exercised greenshoe.
William Blair & Co., LLC was 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: | $60,037,200 (including $7,830,937 greenshoe)
|
| Shares: | 22,236,000
|
| 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
|
| Settlement date: | Feb. 10
|
| Stock symbol: | Nasdaq: AGEN
|
| Stock price: | $2.90 at close Feb. 4
|
| Market capitalization: | $104.64 million
|
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