Jefferies and Cowen were the joint bookrunning managers for offering
By Devika Patel
Knoxville, Tenn., March 12 - Aquinox Pharmaceuticals, Inc. said the underwriters for its initial public sale of stock opted to exercise the deal's $6.93 million greenshoe in full, lifting total proceeds to $53.13 million. The deal was announced Jan. 28 and priced for $46.2 million with the greenshoe on March 7.
The company sold 4.83 million common shares at $11.00 apiece. Of the shares, 630,000 were part of the fully exercised greenshoe.
Jefferies LLC and Cowen and Co., LLC were the joint bookrunning managers.
Proceeds will be used for clinical trials, toxicology studies, large batch manufacturing and process development, to advance products through preclinical development and for working capital, capital expenditures and other general corporate purposes.
The clinical-stage pharmaceutical company is based in Vancouver, B.C. It intends to list its common stock on the Nasdaq under the symbol "AQXP."
| Issuer: | Aquinox Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $53.13 million, including $6.93 million greenshoe
|
| Shares: | 4.83 million
|
| Price: | $11.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Cowen and Co., LLC
|
| Co-manager: | Canaccord Genuity Inc.
|
| Announcement date: | Jan. 28
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Stock exchange: | Nasdaq: AQXP
|
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