By Ronda Fears
Nashville, Aug. 11 - Kosan Biosciences Inc. priced 4.5 million shares off the shelf at $8.75 each, discounted from Thursday's close of $9.00 per share, via bookrunner Credit Suisse First Boston.
Gross proceeds are $39.375 million, excluding the greenshoe. When originally filed on Aug. 4, gross proceeds were estimated at $43.5 based on the then-current stock price of $9.65.
Kosan Biosciences, based in Hayward, Calif., plans to use proceeds for research and development and general corporate purposes.
| Issuer: | Kosan Biosciences Inc.
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| Issue: | Follow-on stock offering
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| Gross proceeds: | $39.375 million
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| Shares: | 4.5 million shares
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| Greenshoe: | 675,000 shares
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| Price: | $8.75 per share
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| Bookrunner: | Credit Suisse First Boston
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| Co-managers: | SG Cowen & Co. and CIBC World Markets
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 16
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| Ticker: | KOSN
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| Stock price: | $9.00 at close Aug. 10
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