William Blair and RBC raise funds for clinical trials, working capital
By Devika Patel
Knoxville, Tenn., Jan. 22 – Agile Therapeutics, Inc. said it priced a $35 million public sale of stock with a $5.25 million greenshoe. The deal was announced Thursday.
The company will sell 5,511,812 common shares at $6.35 per share. The price per share is an 11.18% discount to the Jan. 21 closing share price of $7.06.
William Blair & Co. LLC and RBC Capital Markets LLC are the bookrunners.
Settlement is expected Jan. 27.
Proceeds will be used for clinical trials, working capital and other general corporate purposes.
The women’s health specialty pharmaceutical company is based in Princeton, N.J.
| Issuer: | Agile Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $35 million
|
| Greenshoe: | $5.25 million, or 826,771 shares
|
| Shares: | 5,511,812
|
| Price: | $6.35
|
| Warrants: | No
|
| Bookrunners: | William Blair & Co. LLC and RBC Capital Markets LLC
|
| Co-managers: | Janney Montgomery Scott LLC, Cantor Fitzgerald & Co. and FBR Capital Markets & Co.
|
| Announcement date: | Jan. 21
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 27
|
| Stock symbol: | Nasdaq: AGRX
|
| Stock price: | $7.06 at close Jan. 21
|
| Market capitalization: | $267.36 million
|
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