Stifel and Aegis Capital were joint bookrunning managers for deal
By Devika Patel
Knoxville, Tenn., Oct. 29 - Alcobra Ltd. said the underwriters for its public offering of stock opted to exercise the deal's $11.76 million greenshoe in part for total proceeds of $37.95 million. The deal was announced Oct. 15 and priced for $33 million with the greenshoe on Oct. 25.
The company sold 2.3 million ordinary shares at $16.50 apiece. The price per share is a 3.51% discount to the Oct. 24 closing share price of $17.10. Of the shares, 300,000 were part of the partially exercised greenshoe.
Stifel and Aegis Capital Corp. were the joint bookrunning managers.
Settlement is expected Oct. 30.
Proceeds will be used for clinical trials, working capital and general corporate purposes.
The emerging biopharmaceutical company is based in Tel Aviv, Israel.
| Issuer: | Alcobra Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | $37.95 million (including $4.95 million greenshoe)
|
| Shares: | 2.3 million
|
| Price: | $16.50
|
| Warrants: | No
|
| Bookrunners: | Stifel and Aegis Capital Corp.
|
| Co-lead manager: | JMP Securities
|
| Announcement date: | Oct. 15
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| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Stock symbol: | Nasdaq: ADHD
|
| Stock price: | $17.10 at close Oct. 24
|
| Market capitalization: | $189.28 million
|
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