Proceeds used for clinical and pre-clinical development of birinapant
By Devika Patel
Knoxville, Tenn., Dec. 12 - TetraLogic Pharmaceuticals Corp. said it priced its $50.05 million initial public offering of stock with a $7.51 million greenshoe. The deal was announced Tuesday.
The company will sell 7.15 million common shares at $7.00 apiece.
Oppenheimer & Co. Inc., Guggenheim Securities, LLC and Needham & Co., LLC are the bookrunning managers.
Settlement is expected Dec. 17.
Proceeds will be used to advance the clinical and pre-clinical development of birinapant, for other clinical programs, for working capital and for general corporate purposes.
The clinical-stage biopharmaceutical company is based in Malvern, Pa. The company expects its shares will trade on the Nasdaq under the symbol "TLOG."
| Issuer: | TetraLogic Pharmaceuticals Corp.
|
| Issue: | Common stock
|
| Amount: | $50.05 million
|
| Greenshoe: | $7,507,500
|
| Shares: | 7.15 million
|
| Price: | $7.00
|
| Warrants: | No
|
| Bookrunners: | Oppenheimer & Co. Inc., Guggenheim Securities, LLC, Needham & Co., LLC
|
| Announcement date: | Dec. 10
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Stock exchange: | Nasdaq: TLOG
|
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