Deal has $6.64 million greenshoe; Jefferies, Piper Jaffray assist
By Toni Weeks
San Luis Obispo, Calif., July 18 - AcelRx Pharmaceuticals, Inc. priced a $44.27 million public offering of common stock with a $6.64 million greenshoe, according to a press release.
The company plans to sell 3.8 million shares at $11.65 each, a 2.27% discount to the company's closing price of $11.92 on July 17. The deal includes a 30-day over-allotment option for another 570,000 shares.
Jefferies LLC and Piper Jaffray & Co. are the joint bookrunning managers. Guggenheim Securities, LLC is the co-manager.
Proceeds will be used for regulatory approval of Zalviso in the United States and Europe, the commercial launch of Zalviso in the United States, working capital and general corporate purposes.
Based in Redwood City, Calif., AcelRx is a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of acute and breakthrough pain.
| Issuer: | AcelRx Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $44.27 million
|
| Greenshoe: | $6,640,500
|
| Shares: | 3.8 million
|
| Price: | $11.65
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Piper Jaffray & Co.
|
| Co-manager: | Guggenheim Securities, LLC
|
| Announcement date: | July 17
|
| Pricing date: | July 18
|
| Settlement date: | July 23
|
| Stock ticker: | Nasdaq: ACRX
|
| Stock price: | $11.92 at close July 17
|
| Market capitalization: | $465.47 million
|
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