Leerink Swann assists in selling 11 million shares at $5.50 each
By Devika Patel
Knoxville, Tenn., Oct. 25 - Orexigen Therapeutics, Inc. priced a $60.5 million public offering of stock with a $9.08 million greenshoe in a preliminary prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will sell 11 million common shares at $5.50 per share, which is a 0.36% discount to the Oct. 24 closing share price of $5.52.
Leerink Swann is the bookrunner.
The biopharmaceutical company is based in San Diego.
| Issuer: | Orexigen Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $60.5 million
|
| Greenshoe: | $9,075,000
|
| Shares: | 11 million
|
| Price: | $5.50
|
| Warrants: | 10 warrants per unit
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $0.001
|
| Bookrunner: | Leerink Swann
|
| Pricing date: | Oct. 25
|
| Stock symbol: | Nasdaq: OREX
|
| Stock price: | $5.52 at close Dec. 14
|
| Market capitalization: | $406.83 million
|
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