By Abigail W. Adams
Portland, Me., March 7 – Epizyme Inc. priced $35 million, or 304,348 shares, of series A convertible preferred stock after the market close on Wednesday with a public offering price of $115, according to a company news release.
The deal priced concurrently with a $115 million, or 10 million share, offering of common stock, which priced at $11.50 a share.
Jefferies & Co., Citigroup Global Markets Inc. and Cowen and Co. LLC are joint bookrunners for the registered offerings.
The preferred stock offering carries a greenshoe of 45,652 shares and the common stock offering a greenshoe of 1.5 million shares.
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.
| Issuer: | Epizyme Inc.
|
| Securities: | Series A convertible preferred stock
|
| Amount: | $35 million or 304,348 shares
|
| Greenshoe: | $5.25 million or 45,652 shares
|
| Maturity: | Perpetual
|
| Bookrunners: | Jefferies & Co., Citigroup Global Markets Inc. and Cowen and Co. LLC
|
| Coupon: | 0%
|
| Price: | $115
|
| Conversion rate: | 10
|
| Concurrent offering: | $115 million, or 10 million shares of common stock
|
| Pricing date: | March 7
|
| Settlement date: | March 11
|
| Stock symbol: | Nasdaq: EPZM
|
| Stock price: | $11.50 in concurrent offering
|
| Market capitalization: | $953.65 million
|
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