Bookrunners Oppenheimer and Roth Capital Partners assisted with sale
By Devika Patel
Knoxville, Tenn., March 10 - ANI Pharmaceuticals, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $6.52 million greenshoe in full, lifting total proceeds to $50 million. The offering was announced March 4 and priced for $43.48 million with the greenshoe on March 5.
The company sold 1,612,903 common shares at $31.00 per share. The price per share reflects a 4.38% discount to the March 4 closing share price of $32.42. Of the shares, 210,378 were part of the fully exercised greenshoe.
Oppenheimer & Co. Inc. and Roth Capital Partners were the joint bookrunning managers.
Proceeds will be used to research, develop, commercialize and expand drug products, to acquire businesses and technologies and for working capital and other general corporate purposes.
The pharmaceutical company is based in Baudette, Minn.
| Issuer: | ANI Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $50 million, including $6,521,718 greenshoe
|
| Shares: | 1,612,903
|
| Price: | $31.00
|
| Warrants: | No
|
| Bookrunners: | Oppenheimer & Co. Inc. and Roth Capital Partners
|
| Announcement date: | March 4
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Stock symbol: | Nasdaq: ANIP
|
| Stock price: | $32.42 at close March 4
|
| Market capitalization: | $329.89 million
|
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