Goldman Sachs, Jefferies, DNB Markets assist as managers
By Toni Weeks
San Diego, Feb. 13 - Algeta ASA said it has arranged a private placement of up to 2 million new shares of stock to raise about NOK 260 million.
The company has retained Goldman Sachs International, Jefferies and DNB Markets as managers for the sale.
Settlement is expected on Feb. 16.
Proceeds will be used to establish an optimal level of commercial operations in the United States related to the company's launch of Alpharadin, to advance the research and development of the Thorium platform and for working capital, capital expenditures and general corporate purposes.
The company also said that separately from and following the private placement, it intends to conduct a repair offering of shares at the same offer price as in the private placement. The repair offering will be directed only toward existing shareholders as of Feb. 13 who hold 50,000 shares or fewer and do not participate in the offering.
In addition, funds managed by Abingworth will offer up to 1 million of existing shares in the secondary.
The Oslo-based pharmaceutical company focuses on the development of novel target cancer therapeutics.
| Issuer: | Algeta ASA
|
| Issue: | Common stock
|
| Amount: | NOK 260 million (approximately)
|
| Shares: | 2 million
|
| Warrants: | No
|
| Managers: | Goldman Sachs International, Jefferies and DNB Markets
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 16
|
| Stock symbol: | Pink Sheets: ALGZF
|
| Stock price: | $28.02 at close Feb. 13
|
| Market capitalization: | $1.14 billion
|
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