Bookrunners Jefferies, Piper Jaffray seek funds for corporate purposes
By Devika Patel
Knoxville, Tenn., June 18 – Organovo Holdings, Inc. said it priced a $40.06 million public sale of stock with a $6.01 million greenshoe. The deal was announced Wednesday.
The company will sell 9,425,000 common shares at $4.25 per share. The price per share is an 18.27% discount to the June 17 closing share price of $5.20.
Jefferies LLC and Piper Jaffray & Co. are the joint bookrunners.
Settlement is expected June 23.
Proceeds will be used 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: | $40,056,250
|
| Greenshoe: | $6,008,438, or 1,413,750 shares
|
| Shares: | 9,425,000
|
| Price: | $4.25
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Piper Jaffray & Co.
|
| Co-managers: | Cantor Fitzgerald & Co.
|
| Announcement date: | June 17
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Stock symbol: | NYSE: ONVO
|
| Stock price: | $5.20 at close June 17
|
| Market capitalization: | $359.77 million
|
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