By Sheri Kasprzak
New York, Dec. 8 - Medivation, Inc. is gearing up to close a $35.75 million direct placement of its stock.
A group of institutional investors agreed to buy 2.2 million shares at $16.25 each.
The shares will be sold under the company's shelf registration.
Cowen & Co., LLC is the bookrunner with Leerink Swann & Co., Rodman & Renshaw, LLC and Emerging Growth Equities Ltd. as co-agents.
The offering is scheduled to close Dec. 13.
San Francisco-based Medivation is a biopharmaceutical company focused on small molecule drugs used to treat Alzheimer's disease, Huntington's disease and hormone-refractory prostate cancer.
| Issuer: | Medivation, Inc.
|
| Issue: | Stock
|
| Amount: | $35.75 million
|
| Shares: | 2.2 million
|
| Price: | $16.25
|
| Warrants: | No
|
| Placement agents: | Cowen & Co., LLC (lead); Leerink Swann & Co.; Rodman & Renshaw, LLC; Emerging Growth Equities Ltd.
|
| Announcement date: | Dec. 8
|
| Settlement date: | Dec. 13
|
| Stock symbol: | Amex: MDV
|
| Stock price: | $16.60 at close Dec. 7
|
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