Jefferies, Cowen, Lazard Capital Markets, Leerink Swann assist in sale
By Devika Patel
Knoxville, Tenn., Feb. 1 - Ardea Biosciences, Inc. said it priced a $144.5 million public sale of stock with a $21.68 million greenshoe. Plans for the deal were announced Tuesday.
The company sold 8.5 million common shares at $17.00 per share. The price per share is a 6.54% discount to the Jan. 31 closing share price, $18.19.
Jefferies & Co., Inc. is the bookrunning manager. Cowen and Co., LLC, Lazard Capital Markets LLC, Leerink Swann LLC, Oppenheimer & Co. Inc. and Wells Fargo Securities, LLC are co-lead managers, and JMP Securities LLC and Mizuho Securities USA Inc. are co-managers.
Settlement is expected Feb. 6.
Proceeds will be used for general corporate purposes, which may include research and development expenses, phase 3 clinical trials, capital expenditures, working capital and general and administrative expenses.
Carlsbad, Calif.-based Ardea specializes in the discovery and development of small-molecule therapeutics.
| Issuer: | Ardea Biosciences, Inc.
|
| Issue: | Common stock
|
| Amount: | $144.5 million
|
| Greenshoe: | $21,675,000
|
| Shares: | 8.5 million
|
| Price: | $17.00
|
| Warrants: | No
|
| Underwriters: | Jefferies & Co., Inc. (bookrunner); Cowen and Co., LLC, Lazard Capital Markets LLC, Leerink Swann LLC, Oppenheimer & Co. Inc. and Wells Fargo Securities, LLC (co-lead managers); JMP Securities LLC and Mizuho Securities USA Inc. (co-managers)
|
| Announcement date: | Jan. 31
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 6
|
| Stock symbol: | Nasdaq: RDEA
|
| Stock price: | $18.19 at close Jan. 31
|
| Market capitalization: | $492.92 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
