Bookrunners Roth and Oppenheimer sell 2,673,750 common shares in deal
By Devika Patel
Knoxville, Tenn., July 17 – Tonix Pharmaceuticals Holding Corp. said the underwriters for its public offering of stock opted to exercise the deal’s $2.62 million greenshoe in full, lifting total proceeds of the offering to $20.05 million. The deal was announced on Monday and priced for $17.44 million with the greenshoe on Tuesday.
The company sold 2,673,750 shares at $7.50 per share, which is an 8.98% discount to the July 13 closing share price of $8.24. Of the shares, 348,750 were part of the fully exercised greenshoe.
Roth Capital Partners and Oppenheimer & Co. were the bookrunners.
Proceeds will be used for product development, working capital, general corporate purposes and possibly acquisitions, though no acquisitions are currently planned.
Tonix is a New York-based pharmaceutical company developing medicines for central nervous system disorders.
| Issuer: | Tonix Pharmaceuticals Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $20,053,125, including $2,615,625 greenshoe of 348,750 shares
|
| Shares: | 2,673,750
|
| Price: | $7.50
|
| Warrants: | No
|
| Underwriters: | Roth Capital Partners and Oppenheimer & Co.
|
| Co-manager: | Janney Montgomery Scott
|
| Announcement date: | July 13
|
| Pricing date: | July 14
|
| Settlement date: | July 17
|
| Stock symbol: | Nasdaq: TNXP
|
| Stock price: | $8.24 at close July 13
|
| Market capitalization: | $133.49 million
|
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