Sunesis Pharmaceuticals to price an offering of series F convertible preferred stock

By Abigail W. Adams

Portland, Me., July 10 – Sunesis Pharmaceuticals, Inc. plans to price an offering of series F convertible preferred stock, according to a 424B5 filing.

Wells Fargo Securities LLC and Oppenheimer & Co. Inc. are bookrunners for the registered offering, which carries a greenshoe of 15% of the principal amount.

The preferred stock is convertible into 1,000 shares of common stock and will carry no dividend.

The convertible preferred stock is pricing concurrent to a common stock offering.

The size of the offerings and whether they will be completed is uncertain, the company said in a press release.

Proceeds from the concurrent offerings will be used to fund the development of vecabrutinib, for research and development, and for general corporate purposes.

Sunesis is a San Francisco, Calif.-based biopharmaceutical company.

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