Piper Jaffray was the bookrunner and JMP Securities assisted with sale
By Devika Patel
Knoxville, Tenn., Dec. 1 – Medgenics Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $3.15 million greenshoe in full, lifting total proceeds to $21.16 million. The deal was announced Nov. 24 and priced for $21.01 million with the greenshoe on Nov. 25.
The company sold 5,893,750 common shares at $4.10 per share. The price per share is a 14.23% discount to the Nov. 24 closing share price of $4.78. Of the shares, 768,750 were part of the fully exercised greenshoe.
Piper Jaffray & Co. was the bookrunning manager.
Proceeds will be used for clinical development, research and development, preclinical programs and general corporate purposes.
The medical technology and therapeutics company is based in San Francisco.
| Issuer: | Medgenics Inc.
|
| Issue: | Common shares
|
| Amount: | $24,164,375
|
| Greenshoe: | $3,151,875
|
| Shares: | 5,893,750
|
| Price: | $4.10
|
| Warrants: | No
|
| Bookrunner: | Piper Jaffray & Co.
|
| Co-manager: | JMP Securities LLC
|
| Announcement date: | Nov. 24
|
| Pricing date: | Nov. 25
|
| Settlement date: | Dec. 1
|
| Stock symbol: | NYSE: MDGN
|
| Stock price: | $4.78 at close Nov. 24
|
| Market capitalization: | $80.34 million
|
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