Epizyme plans to price convertible preferred stock concurrently with common stock offering

By Abigail W. Adams

Portland, Me., March 6 – Epizyme Inc. plans to price an offering of series A convertible preferred stock prior to the market open on Thursday, according to a market source.

The deal is pricing concurrently with a $150 million common stock offering, which is pricing at $11.50 a share.

Jefferies & Co., Citigroup Global Markets Inc. and Cowen and Co. LLC are joint bookrunners for the registered offerings, which each carry a greenshoe of 15%.

Preferred stock holders will receive dividends equal to the dividends paid on common stock.

The preferred stock will not be listed for trade.

Proceeds will be used to fund the global development and commercialization of the company’s cancer medication tazemetostat.

Epizyme is a Cambridge, Mass-based late-stage biopharmaceutical company.

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