Bookrunners Leerink Partners, Canaccord Genuity and Guggenheim assist
By Devika Patel
Knoxville, Tenn., Sept. 10 – Aquinox Pharmaceuticals, Inc. said it priced an $85.25 million public sale of stock with a $12.79 million greenshoe on Wednesday. The deal was announced Tuesday.
The company will sell 5.5 million common shares at $15.50 apiece. The price per share is a 1.27% discount to the Sept. 8 closing share price of $15.70.
Leerink Partners, Canaccord Genuity and Guggenheim Securities are the bookrunning managers.
Settlement is expected Sept. 15.
Proceeds will be used for phase 3 trials for AQX-1125, research and development, working capital and other general corporate purposes.
The clinical-stage pharmaceutical company is based in Vancouver, B.C.
| Issuer: | Aquinox Pharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $85.25 million
|
| Greenshoe: | $12,787,500, or 825,000 shares
|
| Shares: | 5.5 million
|
| Price: | $15.50
|
| Warrants: | No
|
| Bookrunners: | Leerink Partners, Canaccord Genuity and Guggenheim Securities
|
| Lead manager: | Needham & Co
|
| Announcement date: | Sept. 8
|
| Pricing date: | Sept. 9
|
| Settlement date: | Sept. 15
|
| Stock symbol: | Nasdaq: AQXP
|
| Stock price: | $15.70 at close Sept. 8
|
| Market capitalization: | $178.29 million
|
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