Barclays, Cowen and Jefferies are bookrunners; JMP and Needham assist
By Devika Patel
Knoxville, Tenn., Sept. 11 – Trevena, Inc. said it priced a $63.38 million public sale of stock with a $9.51 million greenshoe. The deal was announced Thursday.
The company will sell 6.5 million common shares at $9.75 per share. The price per share is a 5.8% discount to the Sept. 10 closing share price of $10.35.
Jefferies LLC, Cowen and Co., LLC and Barclays Capital Inc. are the bookrunning managers.
Settlement is expected Sept. 16.
Proceeds will be used for development, clinical studies, working capital and general corporate purposes.
The clinical-stage biopharmaceutical company is based in King of Prussia, Pa.
| Issuer: | Trevena, Inc.
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| Issue: | Common stock
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| Amount: | $63,375,000
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| Greenshoe: | $9,506,250, or 975,000 shares
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| Shares: | 6.5 million
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| Price: | $9.75
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| Warrants: | No
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| Bookrunners: | Jefferies LLC, Cowen and Co., LLC and Barclays Capital Inc.
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| Co-managers: | JMP Securities LLC and Needham & Co., LLC
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| Announcement date: | Sept. 10
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| Pricing date: | Sept. 11
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| Settlement date: | Sept. 16
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| Stock symbol: | Nasdaq: TRVN
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| Stock price: | $10.35 at close Sept. 10
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| Market capitalization: | $432.34 million
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