By LLuvia Mares
New York, Dec. 20 ? Ardea Biosciences, Inc. announced it priced a $40 million private placement of stock.
The company sold 3,018,868 shares at $13.25 per share. No warrants were issued in the transaction.
The offering is expected to close Dec. 21.
Piper Jaffray & Co. is the lead placement agent in the transaction and Cowen and Co. and Oppenheimer & Co. Inc. are co-placement agents.
Proceeds will be used for working capital and general corporate purposes.
Carlsbad, Calif.-based Ardea specializes on the discovery and development of small-molecule therapeutics.
Issuer: Ardea Biosciences, Inc.
Issue: Stock
Amount: $40 million
Shares: 3,018,868
Price: $13.25
Warrants: No
Placement agent: Piper Jaffray & Co., Cowen and Co. and Oppenheimer & Co. Inc.
| Pricing date: | Dec. 19
|
| Closing date: | Dec. 21
|
| Announcement date: | Dec. 20
|
| Stock symbol: | Nasdaq: RDEA
|
| Stock price: | $13.00 at close Dec. 19
|
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