Wells Fargo Securities and JMP Securities will be bookrunners for deal
By Devika Patel
Knoxville, Tenn., March 19 – Concert Pharmaceuticals Inc. said it priced a $50 million public offering of stock with a $7.5 million greenshoe. The offering was announced on Wednesday.
The company will sell 3.3 million common shares at $15.15 per share. The price per share reflects an 8.46% discount to the March 18 closing share price of $16.55.
Wells Fargo Securities, LLC and JMP Securities LLC are the bookrunners.
Proceeds will be used for clinical development, research and preclinical development, working capital and other general corporate purposes.
Concert is a clinical-stage biopharmaceutical company based in Lexington, Mass.
| Issuer: | Concert Pharmaceuticals Inc.
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| Issue: | Common stock
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| Amount: | $49,995,000
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| Greenshoe: | $7,499,250
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| Shares: | 3.3 million
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| Price: | $15.15
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| Warrants: | No
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| Bookrunners: | Wells Fargo Securities, LLC and JMP Securities LLC
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| Co-managers: | Baird and Roth Capital Partners
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| Announcement date: | March 18
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| Pricing date: | March 19
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| Settlement date: | March 24
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| Stock symbol: | Nasdaq: CNCE
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| Stock price: | $16.55 at close March 18
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| Market capitalization: | $276.85 million
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