Offering sells units of common shares, 0.2 of a warrant at $7.11 per unit
By Devika Patel
Knoxville, Tenn., Nov. 6 - Ocera Therapeutics Inc. said it will conduct a $28.02 million private placement of units. Stifel and Cowen and Co. are the agents.
The company will sell 3,940,887 units of one common share and 0.2 of a warrant at $7.11 per unit.
The whole warrants are exercisable at $7.66 for five years. The strike price is a 7.74% premium to the Nov. 5 closing share price of $7.11.
Investors include Vivo Capital, Venrock, Deerfield, Great Point Partners LLC, funds managed by QVT Financial LP, RA Capital Management, InterWest Partners and Three Arch Opportunity Fund.
Proceeds will be used to advance the development of OCR-002, ornithine phenylacetate, for the treatment of hepatic encephalopathy.
Ocera Therapeutics is a biopharmaceutical company based in San Diego.
| Issuer: | Ocera Therapeutics Inc.
|
| Issue: | Units of one common share and 0.2 of a warrant
|
| Amount: | $28,019,707
|
| Units: | 3,940,887
|
| Price: | $7.11
|
| Warrants: | 0.2 of a warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $7.66
|
| Agent: | Stifel and Cowen and Co.
|
| Investors: | Vivo Capital, Venrock, Deerfield, Great Point Partners LLC, funds managed by QVT Financial LP, RA Capital Management, InterWest Partners and Three Arch Opportunity Fund
|
| Pricing date: | Nov. 6
|
| Stock symbol: | Nasdaq: OCRX
|
| Stock price: | $7.11 at close Nov. 5
|
| Market capitalization: | $43.07 million
|
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