Leerink Partners is bookrunner; proceeds fund preclinical studies
By Devika Patel
Knoxville, Tenn., March 4 - OvaScience, Inc. said it priced a $50 million public offering of stock with a $7.5 million greenshoe. The offering was announced Monday.
The company will sell 5 million common shares at $10.00 per share. The price per share reflects an 11.97% discount to the March 3 closing share price of $11.36.
Leerink Partners, LLC is the sole bookrunning manager.
Settlement is expected March 7.
Proceeds will be used for OvaPrimeSM preclinical studies and the anticipated 2015 international launch, to expand the AUGMENTSM international launch, establish an international subsidiary and for other general corporate purposes.
Based in Cambridge, Mass., OvaScience is a fertility company focused on new treatments for infertility.
| Issuer: | OvaScience, Inc.
|
| Issue: | Common stock
|
| Amount: | $50 million
|
| Greenshoe: | $7.5 million
|
| Shares: | 5 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunner: | Leerink Partners, LLC
|
| Co-managers: | Cantor Fitzgerald & Co., H.C. Wainwright & Co., LLC, JMP Securities LLC, Ladenburg Thalmann & Co. and Roth Capital Partners
|
| Announcement date: | March 3
|
| Pricing date: | March 4
|
| Settlement date: | March 7
|
| Stock symbol: | Nasdaq: OVAS
|
| Stock price: | $11.36 at close March 3
|
| Market capitalization: | $183.58 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
