Bookrunners Jefferies and Barclays to assist with sale of common stock
By Devika Patel
Knoxville, Tenn., Sept. 18 – Aratana Therapeutics, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $6.24 million greenshoe in full for total proceeds of $47.87 million. The deal was announced Sept. 16 and priced for $41.63 million with the greenshoe on Thursday.
The company sold 5,175,000 common shares at $9.25 apiece. The price per share is an 8.14% discount to the Sept. 17 closing share price of $10.07. Of the shares, 675,000 were part of the fully exercised greenshoe.
Jefferies and Barclays are the joint bookrunning managers.
Settlement is expected Sept. 22.
Proceeds will be used for development of therapeutic candidates, expansion of commercial infrastructure and for other general corporate and working capital purposes.
Based in Kansas City, Kan., the development-stage biopharmaceutical company is focused on pet medications.
Issuer: | Aratana Therapeutics, Inc.
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Issue: | Common shares
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Amount: | $47,868,750 (including $6,243,750 greenshoe)
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Shares: | 5,175,000
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Price: | $9.25
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Warrants: | No
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Bookrunners: | Jefferies and Barclays
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Announcement date: | Sept. 16
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Pricing date: | Sept. 18
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Settlement date: | Sept. 22
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Stock symbol: | Nasdaq: PETX
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Stock price: | $10.07 at close Sept. 17
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Market capitalization: | $288.69 million
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