Bookrunner Ladenburg Thalmann and co-manager MTS Securities assisted
By Devika Patel
Knoxville, Tenn., March 24 - Oxygen Biotherapeutics, Inc.'s underwriters for a public sale of stock opted to exercise the deal's $7.8 million greenshoe in full for total proceeds of $59.8 million on March 21. The offering was announced March 17 and priced for about $52 million with the greenshoe on March 18.
The company sold 10,678,571 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. Of the shares, 1,392,857 were part of the fully exercised greenshoe.
Ladenburg Thalmann & Co. Inc. was the bookrunning manager.
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: | $59.8 million (including $7.8 million greenshoe)
|
| Shares: | 10,678,571
|
| 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: | $100.17 million
|
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