Offering sells 8,125,000 common shares with $9.75 million greenshoe
By Devika Patel
Knoxville, Tenn., May 15 - Ambit Biosciences Corp. priced its $65 million initial public sale of stock with a $9.75 million greenshoe in a free-writing prospectus filed Wednesday with the Securities and Exchange Commission. It expects the shares to trade on the Nasdaq under the symbol "AMBI." The deal was announced Feb. 20.
The company will sell 8,125,000 common shares at $8.00 per share.
Citigroup, Leerink Swann, BMO Capital Markets and Baird are assisting.
Proceeds will be used for clinical development of quizartinib, development of the company's other programs, working capital and other general corporate purposes.
The biopharmaceutical company is based in San Diego.
| Issuer: | Ambit Biosciences Corp.
|
| Issue: | Common stock
|
| Amount: | $65 million
|
| Greenshoe: | $9.75 million
|
| Shares: | 8,125,000
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunners: | Citigroup and Piper Jaffray & Co.
|
| Announcement date: | Feb. 20
|
| Pricing date: | May 15
|
| Stock exchange: | Nasdaq: AMBI
|
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