Bookrunners Stifel and Cowen help fund clinical development programs
By Devika Patel
Knoxville, Tenn., Oct. 25 - MEI Pharma, Inc. said it priced a $35 million public offering of stock with a $5.25 million greenshoe. The deal was announced Thursday.
The company will sell 4,375,000 common shares at $8.00 per share. The price per share reflects a 16.67% discount to the Oct. 24 closing share price of $9.60.
Stifel and Cowen and Co. are the joint bookrunning managers.
Settlement is expected Oct. 30.
Proceeds will be used for the clinical development programs for Pracinostat, ME-344 and PWT143 and other general corporate purposes.
The oncology company is based in San Diego.
| Issuer: | MEI Pharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $35 million
|
| Greenshoe: | $5.25 million
|
| Shares: | 4,375,000
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunners: | Stifel and Cowen and Co.
|
| Co-managers: | Wedbush PacGrow Life Sciences and Roth Capital Partners
|
| Announcement date: | Oct. 24
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Stock symbol: | Nasdaq: MEIP
|
| Stock price: | $9.60 at close Oct. 24
|
| Market capitalization: | $140.21 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
