Bookrunner Ladenburg Thalmann and co-manager MTS Securities to assist
By Devika Patel
Knoxville, Tenn., March 18 - Oxygen Biotherapeutics, Inc. said it priced a public offering of stock to raise about $52 million with a $7.8 million greenshoe. The offering was announced Monday.
The company will sell common shares at $5.60 per share. The price per share reflects a 9.82% discount to the March 17 closing share price of $6.21.
Ladenburg Thalmann & Co. Inc. is the bookrunning manager.
Settlement is expected March 21.
Proceeds will be used for clinical trials, efforts to obtain regulatory approval for Levosimendan and Oxycyte, developing other product candidates, manufacturing of Levosimendan and Oxycyte, research and development and general corporate purposes.
The Morrisville, N.C., company develops biotechnology products with a focus on oxygen delivery to tissue.
| Issuer: | Oxygen Biotherapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $52 million (approximate)
|
| Greenshoe: | $7.8 million
|
| Price: | $5.60
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Co-manager: | MTS Securities, LLC
|
| Announcement date: | March 17
|
| Pricing date: | March 18
|
| Settlement date: | March 21
|
| Stock symbol: | Nasdaq: OXBT
|
| Stock price: | $6.21 at close March 17
|
| Market capitalization: | $61.14 million
|
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