Piper Jaffray is the bookrunner; JMP Securities and Needham assist
By Devika Patel
Knoxville, Tenn., Oct. 1 – Medgenics Inc. said it priced a $40 million public sale of stock with a $6 million greenshoe. The deal was announced Wednesday.
The company will sell 6,155,000 common shares at $6.50 apiece. The price per share is a 16.88% discount to the Sept. 30 closing share price of $7.82.
Piper Jaffray & Co. is the bookrunning manager.
Settlement is expected Oct. 6.
Proceeds will be used for product development activities, patent maintenance fees and intellectual property support, licensing and research collaborations and general corporate purposes and working capital, which may include acquisitions or licensing of technologies, products or businesses.
The medical technology and therapeutics company is based in San Francisco.
| Issuer: | Medgenics Inc.
|
| Issue: | Common shares
|
| Amount: | $40 million
|
| Greenshoe: | $6,001,125, or 923,250 shares
|
| Shares: | 6,155,000
|
| Price: | $6.50
|
| Warrants: | No
|
| Bookrunner: | Piper Jaffray & Co.
|
| Lead manager: | JMP Securities LLC
|
| Co-manager: | Needham & Co., LLC
|
| Announcement date: | Sept. 30
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 6
|
| Stock symbol: | NYSE: MDGN
|
| Stock price: | $7.82 at close Sept. 30
|
| Market capitalization: | $166.16 million
|
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