Joint bookrunners Lazard Capital and Oppenheimer assist
By Devika Patel
Knoxville, Tenn., Aug. 2 - Organovo Holdings, Inc. said it priced a $40.5 million public offering of stock with a $6.08 million greenshoe. The deal was announced on Aug. 1.
The company will sell 9 million common shares at $4.50 per share. The price per share reflects a 15.89% discount to the Aug. 1 closing share price of $5.35.
Lazard Capital Markets LLC and Oppenheimer & Co. Inc. are the joint bookrunners.
Settlement is expected on Aug. 7.
Proceeds will be used for debt repayment and for general corporate purposes, including research and development, product development and commercialization, general administrative expenses, license or technology acquisitions, working capital and capital expenditures.
Based in San Diego, Organovo is a three-dimensional biology company focused on delivering breakthrough bioprinting technology and creating tissue on demand for research and medical applications.
| Issuer: | Organovo Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $40.5 million
|
| Greenshoe: | $6,075,000
|
| Shares: | 9 million
|
| Price: | $4.50
|
| Warrants: | No
|
| Bookrunners: | Lazard Capital Markets LLC and Oppenheimer & Co. Inc.
|
| Co-managers: | JMP Securities LLC and Maxim Securities LLC
|
| Announcement date: | Aug. 1
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 7
|
| Stock symbol: | NYSE: ONVO
|
| Stock price: | $5.35 at close Aug. 1
|
| Market capitalization: | $300.08 million
|
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