Stifel, Cowen are bookrunners; lead manager JMP Securities will assist
By Devika Patel
Knoxville, Tenn., July 10 – Ocera Therapeutics Inc. said it priced a $25.2 million public offering of stock with a $3.78 million greenshoe. The offering was announced on Wednesday.
The company will sell 4.2 million common shares at $6.00 per share. The price per share reflects a 15.85% discount to the July 9 closing share price of $7.13.
Stifel and Cowen and Co. are the joint bookrunning managers.
Settlement is expected on July 15.
Proceeds will be used for clinical development of OCR-002, working capital and other general corporate purposes.
Ocera Therapeutics is a biopharmaceutical company based in San Diego.
| Issuer: | Ocera Therapeutics Inc.
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| Issue: | Common stock
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| Amount: | $25.2 million
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| Greenshoe: | $3.78 million
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| Shares: | 4.2 million
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| Price: | $6.00
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| Warrants: | No
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| Bookrunners: | Stifel and Cowen and Co.
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| Lead manager: | JMP Securities
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| Announcement date: | July 9
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| Pricing date: | July 10
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| Settlement date: | July 15
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| Stock symbol: | Nasdaq: OCRX
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| Stock price: | $7.13 at close July 9
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| Market capitalization: | $93.25 million
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