Credit Suisse and Cowen are joint bookrunning managers for deal
By Devika Patel
Knoxville, Tenn., March 12 - Achaogen Inc. said it priced its $72 million initial public sale of stock with a $10.8 million greenshoe. The deal was announced on Jan. 24.
The company will sell 6 million common shares at $12.00 per share.
Credit Suisse Securities (USA) LLC and Cowen and Co., LLC are the joint bookrunners.
Settlement is expected on March 17.
Proceeds will be used for research and development activities, working capital and general corporate expenditures.
The biopharmaceutical company is based in South San Francisco, Calif. It intends to list its common stock on the Nasdaq under the symbol "AKAO."
| Issuer: | Achaogen Inc.
|
| Issue: | Common stock
|
| Amount: | $72 million
|
| Greenshoe: | $10.8 million
|
| Shares: | 6 million
|
| Price: | $12.00
|
| Warrants: | No
|
| Bookrunners: | Credit Suisse Securities (USA) LLC and Cowen and Co., LLC
|
| Co-managers: | William Blair & Co., LLC and Needham & Co., LLC
|
| Announcement date: | Jan. 24
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Stock exchange: | Nasdaq: AKAO
|
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