New York, Dec. 19 - Medivation, Inc. said the underwriters of its recent follow-on offering of common stock exercised the 735,000 share over-allotment option in full, raising the size of the deal to 5.635 million shares.
The San Francisco-based biomedical company originally priced 4.9 million shares after the close on Dec. 5 at $2.00 each, for a total of $9.8 million. With the greenshoe, the deal is sized at $11.27 million.
Adams Harkness, Inc. was bookrunner.
Medivation will use proceeds to finance its business plan.
Medivation acquires or partners on biomedical technologies in the early development stage. It is developing Dimebon for Alzheimer's disease and Huntington's disease.
| Issuer: | Medivation, Inc.
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| Issue: | Follow-on stock offering
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| Amount: | $11.27 million (with greenshoe)
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| Shares: | 5.635 million (includes greenshoe for 735,000)
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| Price: | $2.00
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| Bookrunner: | Adams Harkness, Inc.
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Stock price: | $2.30
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| Ticker: | "MDVN"
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