Bookrunner Cowen and co-managers Brean and LifeSci to assist with sale
By Devika Patel
Knoxville, Tenn., Feb. 6 – Ohr Pharmaceutical Inc. said it priced a $25 million public offering of stock with a $3.75 million greenshoe. The deal was announced Thursday.
The company will sell 3,703,704 common shares at $6.75 per share. The price per share is an 11.65% discount to the Feb. 5 closing share price of $7.64.
Cowen and Co., LLC is the bookrunner.
Proceeds will be used for clinical trials, pre-clinical development and general corporate purposes.
Ohr is a biotechnology company based in New York.
| Issuer: | Ohr Pharmaceutical Inc.
|
| Issue: | Common stock
|
| Amount: | $25 million
|
| Shares: | $3.75 million
|
| Shares: | 3,703,704
|
| Price: | $6.75
|
| Warrants: | No
|
| Bookrunner: | Cowen and Co., LLC
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| Co-managers: | Brean Capital, LLC and LifeSci Capital LLC
|
| Announcement date: | Feb. 5
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 11
|
| Stock symbol: | Nasdaq: OHRP
|
| Stock price: | $7.64 at close Feb. 5
|
| Market capitalization: | $173.03 million
|
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