JPMorgan, Piper Jaffray, Cowen, Baird help fund sales and marketing
By Devika Patel
Knoxville, Tenn., Feb. 4 – Oxford Immunotec Global plc said the underwriters for its initial public offering of stock opted to exercise the deal’s $7.5 million greenshoe in full, lifting total proceeds of the deal to $57.5 million. The deal was announced Jan. 28 and priced for $50 million with the greenshoe on Jan. 30.
The company sold 4,893,616 ordinary shares at $11.75 apiece. The price per share is a 1.51% discount to the Jan. 29 closing share price of $11.93. Of the shares, 638,297 were part of the fully exercised greenshoe.
J.P. Morgan Securities LLC and Piper Jaffray & Co. were the bookrunners.
Proceeds will be used to hire additional sales and marketing personnel, to accelerate commercial activities, for research and development, for working capital and for general corporate purposes, including potential acquisitions.
The diagnostics company is based in Abingdon, England.
| Issuer: | Oxford Immunotec Global plc
|
| Issue: | Ordinary shares
|
| Amount: | $57.5 million, including $7.5 million greenshoe
|
| Shares: | 4,893,616
|
| Price: | $11.75
|
| Warrants: | No
|
| Bookrunners: | J.P. Morgan Securities LLC and Piper Jaffray & Co.
|
| Co-managers: | Cowen and Co., LLC and Robert W. Baird & Co. Inc.
|
| Announcement date: | Jan. 28
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 4
|
| Stock symbol: | Nasdaq: OXFD
|
| Stock price: | $11.93 at close Jan. 29
|
| Market capitalization: | $222.78 million
|
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