JPMorgan, RBC Capital and Canaccord Genuity assist with financing
By Devika Patel
Knoxville, Tenn., Jan. 22 - AVEO Pharmaceuticals, Inc. said the underwriters for a $50 million public offering of common stock have elected to exercise the deal's $7.5 million greenshoe in full for total proceeds of $57.5 million. The offering was announced on Jan. 16 and priced on Jan. 17.
The company will sell 7,667,050 common shares at $7.50 per share. The price per share is a 7.64% discount to the Jan. 16 closing share price of $8.12. Of the shares, 1,000,050 are part of the fully exercised greenshoe.
J.P. Morgan Securities LLC is the bookrunning manager.
Settlement is expected Jan. 23.
AVEO is a Cambridge, Mass.-based biopharmaceutical company that is developing cancer therapeutics.
| Issuer: | AVEO Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $57,502,875 (including $7,500,375 greenshoe exercise)
|
| Shares: | 7,667,050
|
| Price: | $7.50
|
| Warrants: | No
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Co-lead managers: | RBC Capital Markets, LLC and Canaccord Genuity Inc.
|
| Announcement date: | Jan. 16
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Stock symbol: | Nasdaq: AVEO
|
| Stock price: | $8.12 at close Jan. 16
|
| Market capitalization: | $338.03 million
|
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