Bookrunning manager Laidlaw and co-manager MLV will assist with deal
By Devika Patel
Knoxville, Tenn., Feb. 6 – Actinium Pharmaceuticals, Inc. said it priced a $20 million public offering of stock with a $3 million greenshoe. The deal was announced Thursday.
The company will sell 4,444,444 common shares at $4.50 apiece, which is a 9.82% discount to the Feb. 5 closing share price of $4.99.
Investors will also receive warrants for 3,333,333 shares, which are each exercisable at $6.50 for four years. The strike price is a 30.26% premium to the Feb. 5 closing share price.
Laidlaw & Company (UK) Ltd. is the bookrunning manager.
Proceeds will be used for general corporate purposes, including capital expenditures, the advancement of drug candidates in clinical trials, preclinical trials, licensing activities and working capital needs.
The biopharmaceutical company is based in New York.
| Issuer: | Actinium Pharmaceuticals, Inc.
|
| Issue: | Common stock
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| Amount: | $20 million
|
| Greenshoe: | $3 million
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| Units: | 4,444,444
|
| Price: | $4.50
|
| Warrants: | For 3,333,333 shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $6.50
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| Bookrunner: | Laidlaw & Company (UK) Ltd.
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| Co-manager: | MLV& 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
|
| Stock symbol: | NYSE: ATNM
|
| Stock price: | $4.99 at close Feb. 5
|
| Market capitalization: | $112.52 million
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