Deal sells 5.75 million shares through Barclays, UBS and Piper Jaffray
By Devika Patel
Knoxville, Tenn., Jan. 30 - LipoScience, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $6.75 million greenshoe in full for total proceeds of $51.75 million. The deal was announced on Jan. 25 and priced for $45 million.
The company sold 5.75 million common shares at $9.00 per share. Of the shares, 750,000 were part of the fully exercised greenshoe.
Barclays, UBS Securities LLC and Piper Jaffray & Co. were the joint bookrunning managers.
Proceeds will be used to hire additional sales and marketing personnel and to support costs associated with increased sales and marketing activities, for capital expenditures, including components of the Vantera system, research and development programs, to pay accrued dividends on preferred stock and the balance for other general corporate purposes, including general and administrative expenses, working capital and potential debt repayment.
LipoScience, based in Raleigh, N.C., develops and markets new clinical applications of NMR spectroscopy in the areas of cardiovascular disease and metabolic disorders.
| Issuer: | LipoScience, Inc.
|
| Issue: | Common stock
|
| Amount: | $51.75 million (including $6.75 million greenshoe)
|
| Shares: | 5.75 million
|
| Price: | $9.00
|
| Warrants: | No
|
| Announcement date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Stock symbol: | Nasdaq: LPDX
|
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