Underwriters fully exercise greenshoe option for $3 million more shares
By Susanna Moon
Chicago, Feb. 11 – Trovagene Inc. said underwriters fully exercised the over-allotment option for $3 million additional shares in its public sale of stock. The offering was announced on Feb. 5 and priced the following day for $20 million.
This brings the total deal size to $23 million.
In all, the company sold 5,111,110 shares at $4.50 per share, which is a 23.08% discount to the Feb. 5 closing share price of $5.85, as previously noted.
Piper Jaffray & Co. is the bookrunning manager.
Proceeds will be used for research and development activities and for working capital and other general corporate purposes.
Trovagene is a molecular diagnostic company in San Diego.
| Issuer: | Trovagene Inc.
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| Issue: | Common stock
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| Amount: | $23 million (including $3 million greenshoe)
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| Shares: | 5,111,110
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| Price: | $4.50
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| Warrants: | No
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| Bookrunner: | Piper Jaffray & Co.
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| Co-managers: | Janney Montgomery Scott LLC, Maxim Group LLC and Cantor Fitzgerald & Co.
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| Announcement date: | Feb. 5
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 11
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| Stock symbol: | Nasdaq: TROV
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| Stock price: | $5.85 at close Feb. 5
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| Market capitalization: | $88.08 million
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