By Ronda Fears
Memphis, May 24 - Sirna Therapeutics, Inc. raised $45 million from an upsized follow-on offering of 9 million shares, boosted from 8 million shares, priced at $5 each, discounted from Tuesday's close of $5.13, via joint bookrunners UBS Investment Bank and J.P. Morgan Securities Inc.
On Tuesday, a secondary offering for another 2 million shares to be sold by Oxford Bioscience Partners, The Sprout Group and Venrock Associates had been withdrawn along with an associated greenshoe for 300,000 shares.
Sirna said proceeds are earmarked for general corporate purposes, including funding research and development, clinical trial expenses and potential in-licensing of intellectual property and technology.
San Francisco-based Sirna develops therapeutics based on the science of RNA interference for the treatment of age-related macular degeneration, chronic hepatitis, asthma, dermatology, Huntington's disease, type 2 diabetes and respiratory syncytial virus infection.
| Issuer: | Sirna Therapeutics, Inc.
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| Issue: | Follow-on stock offering
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| Gross proceeds: | $45 million
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| Net proceeds: | $41.9 million
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| Shares: | 9 million, up from 8 million
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| Greenshoe: | 1.35 million, up from 1.2 million
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| Price: | $5.00 per share
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| Bookrunners: | UBS Investment Bank and J.P. Morgan Securities Inc.
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| Co-managers: | CIBC World Markets, Leerink Swann & Co. and Brean Murray, Carret & Co.
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| Pricing date: | May 23
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| Settlement date: | May 30
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| Stock symbol: | Nasdaq: RNAI
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| Stock price: | $5.13 on May 23
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