Cowen was the bookrunner; proceeds fund commercialization of Iluvien
By Devika Patel
Knoxville, Tenn., Aug. 16 – Alimera Sciences, Inc. said the underwriters for its public sale of stock opted to exercise the deal’s $1.26 million greenshoe in full, lifting total proceeds of the offering to $26.46 million. The deal was announced Aug. 10 and priced for $25.2 million with the greenshoe on Aug. 11.
The company sold 18.9 million common shares at $1.40 per share. The price per share is a 14.11% discount to the Aug. 10 closing share price of $1.63. Of the shares, 900,000 were part of the fully exercised greenshoe.
Cowen and Co. was the bookrunner.
Proceeds will be used for commercialization of Iluvien, working capital and other general corporate purposes.
Atlanta-based Alimera Sciences develops and markets ophthalmology pharmaceuticals.
| Issuer: | Alimera Sciences, Inc.
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| Issue: | Common stock
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| Amount: | $26.46 million, including $1.26 million greenshoe of 900,000 shares
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| Shares: | 18.9 million
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| Price: | $1.40
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| Warrants: | No
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| Bookrunner: | Cowen and Co.
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| Co-manager: | Laidlaw & Co. (UK) Ltd.
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| Announcement date: | Aug. 10
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 16
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| Stock symbol: | Nasdaq: ALIM
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| Stock price: | $1.63 at close Aug. 10
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| Market capitalization: | $111 million
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