Proceeds will finance clinical development, studies, working capital
By Devika Patel
Knoxville, Tenn., March 13 - Hyperion Therapeutics, Inc. said it settled a $68.61 million public sale of stock. The deal was announced Feb. 26 and priced for $59.66 million with an $8.95 million greenshoe on March 8.
The company sold 3,306,250 common shares at $20.75 apiece. The per-share price is a 4.77% discount from the closing share price of $21.79 on March 7. Of the shares, 431,250 were part of the fully exercised greenshoe.
Leerink Swann LLC and Cowen and Co., LLC were the joint bookrunning managers.
Proceeds will be used for clinical development, phase 4 studies, working capital and general corporate purposes.
The biopharmaceutical company is based in South San Francisco, Calif.
| Issuer: | Hyperion Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $68,604,688 (including $8,948,438 greenshoe)
|
| Shares: | 3,306,250
|
| Price: | $20.75
|
| Warrants: | No
|
| Bookrunners: | Leerink Swann LLC and Cowen and Co., LLC
|
| Co-managers: | Needham & Co., LLC and JMP Securities LLC
|
| Announcement date: | Feb. 26
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Stock symbol: | Nasdaq: HPTX
|
| Stock price: | $21.79 at close March 7
|
| Market capitalization: | $381.03 million
|
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