Deal conducted by bookrunners Stifel, Leerink Swann and Wells Fargo
By Devika Patel
Knoxville, Tenn., Nov. 12 - Zogenix, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $9 million greenshoe in full for total proceeds of $69 million. The deal was announced Nov. 4 and priced for $60 million with the greenshoe on Nov. 5.
The company sold 30,666,667 common shares at $2.25 per share. The price per share reflects an 11.42% discount to the Nov. 4 closing share price of $2.54. Of the shares, 4 million comprised the fully exercised greenshoe.
Stifel, Leerink Swann LLC and Wells Fargo Securities, LLC were the joint bookrunning managers.
Proceeds will be used for pre-commercialization and commercialization activities for Zohydro ER, additional development activities of Zohydro ER and Relday and for working capital and other general corporate purposes.
San Diego-based Zogenix is a pharmaceutical company focused on medicines to treat central nervous system disorders and pain.
| Issuer: | Zogenix, Inc.
|
| Issue: | Common stock
|
| Amount: | $60 million (including $9 million greenshoe)
|
| Shares: | 30,666,667
|
| Price: | $2.25
|
| Warrants: | No
|
| Bookrunners: | Stifel, Leerink Swann LLC and Wells Fargo Securities, LLC
|
| Co-managers: | Oppenheimer & Co. and William Blair & Co., LLC
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| Announcement date: | Nov. 4
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 12
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| Stock symbol: | Nasdaq: ZGNX
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| Stock price: | $2.54 at close Nov. 4
|
| Market capitalization: | $286.59 million
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