BofA Merrill Lynch assists in financing commercialization activities
By Devika Patel
Knoxville, Tenn., Aug. 29 - MAP Pharmaceuticals, Inc. said the greenshoe was fully exercised in a $59.8 million public offering of stock. The offering was announced on July 31 and priced for $52 million with a $7.8 million greenshoe on Aug. 1.
The company sold 4,462,686 common shares at $13.40 per share. The price per share reflects a 5.03% discount to the July 31 closing share price of $14.11. Of the shares, 582,088 were part of the fully exercised greenshoe.
BofA Merrill Lynch was the bookrunning manager.
Proceeds will be used for general corporate purposes and commercialization activities for Levadex.
Located in Mountain View, Calif., MAP Pharmaceuticals develops innovative therapies and inhalation delivery systems to treat a range of respiratory and systemic diseases.
| Issuer: | MAP Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $59,799,992 (including $7,799,979 greenshoe)
|
| Shares: | 4,462,686
|
| Price: | $13.40
|
| Warrants: | No
|
| Bookrunner: | BofA Merrill Lynch
|
| Announcement date: | July 31
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 29
|
| Stock symbol: | Nasdaq: MAPP
|
| Stock price: | $14.11 at close July 31
|
| Market capitalization: | $415.1 million
|
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