Joint bookrunners Lazard Capital and Oppenheimer assist with offering
By Devika Patel
Knoxville, Tenn., Aug. 7 - Organovo Holdings, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $6.08 million greenshoe in full for total proceeds of $46.58 million. The deal was announced on Aug. 1 and priced for $40.5 million with the greenshoe on Aug. 2.
The company sold 10.35 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. Of the shares, 1.35 million were part of the fully exercised greenshoe.
Lazard Capital Markets LLC and Oppenheimer & Co. Inc. were the joint bookrunners.
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: | $46,575,000 (including $6,075,000 greenshoe)
|
| Shares: | 10.35 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: | $310.49 million
|
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