JMP Securities is the bookrunner; proceeds used for corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 17 - Alexza Pharmaceuticals, Inc. said it priced a $22 million public offering of units. The deal was announced Thursday.
The company will sell 44 million units of one common share and one warrant at $0.50 per unit, with each whole five-year warrant exercisable at $0.50. The strike price is a 28.57% discount to the Feb. 16 closing share price of $0.70.
JMP Securities is the bookrunner.
Settlement is expected Feb. 23.
Proceeds will be used for general corporate purposes.
Alexza is a Palo Alto, Calif., pharmaceutical company.
| Issuer: | Alexza Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $22 million
|
| Units: | 44 million
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Bookrunner: | JMP Securities
|
| Announcement date: | Feb. 16
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 23
|
| Stock symbol: | Nasdaq: ALXA
|
| Stock price: | $0.70 at close Feb. 16
|
| Market capitalization: | $37.51 million
|
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