Bookrunner Piper Jaffray raises funds for general corporate purposes
By Devika Patel
Knoxville, Tenn., May 6 – Antares Pharma, Inc. said it priced a $40 million public sale of stock with a $6 million greenshoe. The offering was announced Tuesday.
The company will sell 20 million common shares at $2.00 per share. The price per share is a 13.04% discount to the May 5 closing share price of $2.30.
Piper Jaffray & Co. is the bookrunner.
Settlement is expected May 11.
Proceeds will be used for general corporate purposes, including business development, in-licensing and acquisitions.
Located in Ewing, N.J., Antares is a pharmaceutical company focused on self-injection pharmaceutical products and technologies and topical gel-based products.
| Issuer: | Antares Pharma, Inc.
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| Issue: | Common stock
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| Amount: | $40 million
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| Greenshoe: | $6 million
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| Shares: | 20 million
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| Price: | $2.00
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| Warrants: | No
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| Bookrunner: | Piper Jaffray & Co.
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| Co-managers: | Raymond James & Associates, Inc. and Oppenheimer & Co. Inc.
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| Announcement date: | May 5
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| Pricing date: | May 6
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| Settlement date: | May 11
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| Stock symbol: | Nasdaq: ATRS
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| Stock price: | $2.30 at close May 5
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| Market capitalization: | $276.68 million
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