Company sells 11.44 million units at $1.14 apiece
By Marisa Wong
Madison, Wis., Nov. 21 – Amedica Corp. priced a public offering of units for proceeds of $13 million on Nov. 20, according to an 8-K filing with the Securities and Exchange Commission.
The company priced 11,441,646 units at $1.14 apiece. Each unit consists of one share of Amedica common stock and one warrant to purchase one common share.
The five-year warrants will be exercisable immediately after issuance at $1.48 per share. The strike price reflects a 20.33% premium over the $1.23 closing share price on Nov. 19.
Holders may exercise warrants in cash or on a cashless basis, and the warrants are subject to mandatory exercise under some circumstances.
Amedica has also granted a 45-day option to the underwriters to purchase up to 1,716,246 additional shares and/or 1,716,246 additional warrants. The greenshoe may be used to purchase shares or warrants, or any combination of the two, but these purchases cannot exceed an aggregate of 15% of the number of shares and warrants sold in the primary offering.
Dawson James Securities, Inc. acted as representative of the underwriters for the public offering.
The offering is expected to close on Nov. 26.
The commercial biomaterial company is based in Salt Lake City.
| Issuer: | Amedica Corp.
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| Issue: | Units of common stock, warrants
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| Amount: | $13 million (approximate)
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| Units: | 11,441,646
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| Price: | $1.14
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| Greenshoe: | Up to 1,716,246 additional shares and/or 1,716,246 additional warrants
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.48
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| Underwriter: | Dawson James Securities, Inc. (representative)
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 26
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| Stock symbol: | Nasdaq: AMDA
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| Stock price: | $1.23 at close Nov. 19
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| Market capitalization: | $13.94 million
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