Company offers 8.3 million shares, accompanying warrants at $3.62
By Marisa Wong
Madison, Wis., Feb. 12 – Threshold Pharmaceuticals, Inc. priced a $30.05 million public offering of stock and warrants on Feb. 11, according to an 8-K filing with the Securities and Exchange Commission.
The company priced 8.3 million shares of common stock, along with warrants to purchase a total of 8.3 million common shares, at $3.62 per share.
The common stock and warrants are being sold in combination, with one warrant for each share of stock sold.
The five-year warrants may be exercised at any time six months after issuance. The initial exercise price will be $10.86, subject to adjustment. The initial strike price is a 196.72% premium to the Feb. 10 closing share price of $3.66.
Jefferies LLC is the lead underwriter for the public offering.
The purchase price to be paid by the underwriters to the company for the common stock and accompanying warrants will be $3.4028.
Closing of the offering is expected to take place on Feb. 18.
Threshold is a South San Francisco, Calif.-based biotechnology company.
| Issuer: | Threshold Pharmaceuticals, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $30,046,000
|
| Shares: | 8.3 million
|
| Price: | $3.62
|
| Warrants: | For 8.3 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $10.86 initially, subject to adjustment
|
| Underwriter: | Jefferies LLC
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 18
|
| Stock symbol: | Nasdaq: THLD
|
| Stock price: | $3.66 at close Feb. 10
|
| Market capitalization: | $233.44 million
|
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