Offering funds clinical trials, development, research and development
By Devika Patel
Knoxville, Tenn., March 6 - Trevena, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's greenshoe in part for total proceeds of $66.64 million. The deal was announced Oct. 8 and priced for $59.5 million on Jan. 30.
The company sold 9,520,499 common shares at $7.00 apiece.
Barclays Capital Inc. and Jefferies LLC were the joint bookrunning managers.
Proceeds will be used for clinical trials, clinical development, research and development, working capital and general corporate purposes.
The clinical-stage biopharmaceutical company is based in King of Prussia, Pa. It intends to list its common stock on the Nasdaq under the symbol "TRVN."
| Issuer: | Trevena, Inc.
|
| Issue: | Common stock
|
| Amount: | $66,643,493
|
| Shares: | 9,520,499
|
| Price: | $7.00
|
| Warrants: | No
|
| Bookrunners: | Barclays Capital Inc. and Jefferies LLC
|
| Co-managers: | Canaccord Genuity Inc., JMP Securities LLC and Needham & Co., LLC
|
| Announcement date: | Oct. 8
|
| Pricing date: | Jan. 30
|
| Settlement date: | March 6
|
| Expected listing: | Nasdaq: TRVN
|
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