Deal conducted by joint bookrunners Roth Capital Partners, Oppenheimer
By Devika Patel
Knoxville, Tenn., July 2 – IGI Laboratories, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $3.49 million greenshoe in full for total proceeds of $26.74 million. The deal was announced June 26 and priced for $23.25 million with the greenshoe on June 27.
The company sold 5,347,500 common shares at $5.00 apiece. The price per share is a 5.84% discount to the June 26 closing share price of $5.31. Of the shares, 697,500 were part of the fully exercised greenshoe.
Roth Capital Partners and Oppenheimer & Co. were the joint bookrunning managers.
Proceeds will be used for general corporate purposes.
IGI is a pharmaceutical company based in Hillside, N.J.
Issuer: | IGI Laboratories, Inc.
|
Issue: | Common shares
|
Amount: | $26,737,500 (including $3,487,500 greenshoe)
|
Shares: | 5,347,500
|
Price: | $5.00
|
Warrants: | No
|
Bookrunners: | Roth Capital Partners and Oppenheimer & Co.
|
Announcement date: | June 26
|
Pricing date: | June 27
|
Settlement date: | July 2
|
Stock symbol: | NYSE: IG
|
Stock price: | $5.31 at close June 26
|
Market capitalization: | $270.01 million
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.