Proceeds used for Phase 3 program for eravacycline, working capital
By Devika Patel
Knoxville, Tenn., March 20 - Tetraphase Pharmaceuticals, Inc. said it priced its $75 million initial public offering of stock with an $11.25 million greenshoe. It expects the shares to trade on the Nasdaq under the symbol "TTPH." The deal was announced Tuesday.
The company will sell 10,714,286 common shares at $7.00 per share.
Barclays and BMO Capital Markets are the joint bookrunning managers.
Proceeds will be used to fund the company's Phase 3 program for eravacycline for the treatment of complicated intra-abdominal infections and complicated urinary tract infections and for working capital and other general corporate purposes.
The biopharmaceutical company is based in Watertown, Mass.
| Issuer: | Tetraphase Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $75 million
|
| Greenshoe: | $11.25 million
|
| Shares: | 10,714,286
|
| Price: | $7.00
|
| Warrants: | No
|
| Bookrunners: | Barclays and BMO Capital Markets
|
| Co-managers: | Stifel, JMP Securities and Needham & Co.
|
| Announcement date: | March 19
|
| Pricing date: | March 20
|
| Stock exchange: | Nasdaq: TTPH
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
