Credit Suisse, Leerink, Wells Fargo and Sanford C. Bernstein to assist
By Devika Patel
Knoxville, Tenn., May 8 - Alder BioPharmaceuticals, Inc. priced its $80 million initial public offering of stock with a $12 million greenshoe, according to a prospectus filed Thursday with the Securities and Exchange Commission.
The company will sell 8 million common shares at $10.00 apiece.
Bristol-Myers Squibb Co. has agreed to purchase 1.6 million shares for $16 million.
Credit Suisse and Leerink Partners are the joint bookrunners.
Settlement is expected on May 13.
Proceeds will be used for clinical trials, preclinical product development activities, working capital and other general corporate purposes.
Alder is a Bothell, Wash.-based biopharmaceutical company. It expects the shares to trade on the Nasdaq under the symbol "ALDR."
| Issuer: | Alder BioPharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $80 million
|
| Greenshoe: | $12 million
|
| Shares: | 8 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Credit Suisse and Leerink Partners
|
| Co-managers: | Wells Fargo Securities and Sanford C. Bernstein
|
| Investor: | Bristol-Myers Squibb Co. (for $16 million)
|
| Pricing date: | May 8
|
| Settlement date: | May 13
|
| Stock exchange: | Nasdaq: ALDR
|
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