Piper Jaffray and Leerink Partners help fund research and development
By Devika Patel
Knoxville, Tenn., July 22 – Trovagene Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $5.25 million greenshoe in full, lifting total proceeds of the offering to $40.25 million. The deal was announced July 16 and priced for $35 million with the greenshoe on July 17.
The company sold 4.6 million common shares at $8.75 per share. The price per share reflects a 13.62% discount to the July 16 closing share price of $10.13. Of the shares, 600,000 were part of the fully exercised greenshoe.
Piper Jaffray & Co. and Leerink Partners LLC were the bookrunners.
Proceeds will be used for research and development, working capital and general corporate purposes.
Trovagene is a molecular diagnostic company based in San Diego, Calif.
| Issuer: | Trovagene Inc.
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| Issue: | Common stock
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| Amount: | $40.25 million, including $5.25 million greenshoe of 600,000 shares
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| Shares: | 4.6 million
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| Price: | $8.75
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| Warrants: | No
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| Bookrunners: | Piper Jaffray & Co. and Leerink Partners LLC
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| Co-managers: | Janney Montgomery Scott LLC, Cantor Fitzgerald & Co. and Maxim Group LLC
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| Announcement date: | July 16
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| Pricing date: | July 17
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| Settlement date: | July 22
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| Stock symbol: | NYSE: TROV
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| Stock price: | $10.13 at close July 16
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| Market capitalization: | $285 million
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