Company sells 250,000 more shares for total of 12.9 million shares
By Marisa Wong
Madison, Wis., Sept. 11 - Opexa Therapeutics, Inc. said it closed a second partial exercise of the over-allotment option granted to underwriters of its recent public offering of common stock. Gross proceeds of the offering now total $19.35 million.
The sale was announced June 17 and priced for $18 million with a $2.7 million greenshoe on Aug. 8. The underwriters opted to exercise the greenshoe in part on Sept. 4, lifting total proceeds to $18.98 million.
On Wednesday, the underwriters chose to purchase an additional 250,000 shares, bringing the total number of shares to 12.9 million.
The shares were sold at $1.50 per share. The price per share is a 48.63% discount to the Aug. 7 closing share price of $2.92.
Aegis Capital Corp. was the bookrunning manager.
Proceeds will be used for clinical development of Tcelna and the phase 2b study in patients with secondary progressive multiple sclerosis, for operations and for general corporate purposes, including debt repayment.
The Woodlands, Texas-based Opexa develops and commercializes cell therapies to treat autoimmune diseases, such as multiple sclerosis, rheumatoid arthritis and diabetes.
| Issuer: | Opexa Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $19.35 million (including $1.35 million greenshoe)
|
| Shares: | 12.9 million (including 900,000 from greenshoe)
|
| Price: | $1.50
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | June 17
|
| Pricing date: | Aug. 8
|
| Settlement dates: | Sept. 4 for $18,975,000, Sept. 11 for $375,000
|
| Stock symbol: | Nasdaq: OPXA
|
| Stock price: | $1.60 at close Sept. 10
|
| Market capitalization: | $34.68 million
|
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