BMO Capital, Stifel, Wedbush are to be joint bookrunning managers
By Devika Patel
Knoxville, Tenn., July 24 – Applied Genetic Technologies Corp. said it priced a $30 million public sale of stock with a $4.5 million greenshoe. The deal was announced July 11.
The company will sell 2 million common shares at $15.00 per share. The price per share is a 10.18% discount to the July 23 closing share price of $16.70.
BMO Capital Markets, Stifel and Wedbush PacGrow Life Sciences are the joint bookrunners.
Proceeds will be used for preclinical investigation and phase 1/2 trials, to expand manufacturing capabilities, to in-license, acquire or invest in complementary gene therapy technologies, products or assets and for working capital and other general corporate purposes.
The clinical-stage biotechnology company is based in Alachua, Fla.
| Issuer: | Applied Genetic Technologies Corp.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Greenshoe: | $4.5 million
|
| Shares: | 2 million
|
| Price: | $15.00
|
| Warrants: | No
|
| Bookrunners: | BMO Capital Markets, Stifel and Wedbush PacGrow Life Sciences
|
| Co-managers: | Cantor Fitzgerald & Co. and Roth Capital Partners
|
| Announcement date: | July 11
|
| Pricing date: | July 24
|
| Stock symbol: | Nasdaq: AGTC
|
| Stock price: | $16.70 at close July 23
|
| Market capitalization: | $219.74 million
|
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