Deal sells shares at $17.00, funds expenditures to advance demcizumab
By Devika Patel
Knoxville, Tenn., July 23 - OncoMed Pharmaceuticals, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $12.24 million greenshoe in full for total proceeds of $93.84 million. The deal was announced July 17 and priced for $81.6 million with the greenshoe on July 18.
The company sold 5.52 million common shares at $17.00 per share. Of the shares, 720,000 comprised the fully exercised greenshoe.
Jefferies LLC and Leerink Swann were the joint bookrunners.
Proceeds will be used for clinical expenditures to advance demcizumab through phase 2 clinical trials, clinical and manufacturing expenditures to advance a bispecific antibody through phase 2 clinical trials, clinical and manufacturing expenditures to advance an antibody targeting the RSPO/LGR pathway through phase 1 clinical trials, research and drug discovery activities, working capital and general corporate expenditures.
The biopharmaceutical company is based in Redwood City, Calif.
| Issuer: | OncoMed Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $93.84 million (including $12.24 million greenshoe)
|
| Shares: | 5.52 million
|
| Price: | $17.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Leerink Swann
|
| Co-managers: | Piper Jaffray and BMO Capital Markets
|
| Announcement date: | July 17
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Stock symbol: | Nasdaq: OMED
|
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