Deal includes 30-day greenshoe for 450,000 additional shares at $26.50
By Marisa Wong
Madison, Wis., April 15 – Immune Design Corp. announced it priced its $79.5 million public offering of common stock.
The company is selling 3 million shares at $26.50 per share and has granted the underwriters a 30-day over-allotment option to purchase 450,000 additional shares.
The price per share is a 2% discount to the $27.04 closing share price on April 14.
The joint bookrunners are Jefferies LLC, Leerink Partners LLC and Cowen and Co., LLC.
The offering is expected to close on April 21.
As previously announced, proceeds will be used to fund additional research and development activities for the company’s CMB305 program, including a potential additional phase 2 clinical trial beyond its currently planned randomized sarcoma trial; to fund potential additional phase 1 and phase 2 clinical trials in its G100 program in combination with other approaches, such as radiation therapy or a checkpoint inhibitor; to fund development of a next-generation ZVex product candidate; to continue developing the manufacturing process and scale up for its product candidates; and for research, working capital and general corporate purposes.
Immune Design is a clinical-stage immuno-therapy company based in Seattle.
| Issuer: | Immune Design Corp.
|
| Issue: | Common stock
|
| Amount: | $79.5 million
|
| Shares: | 3 million
|
| Greenshoe: | $1,325,000 (450,000 shares)
|
| Price: | $26.50
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC, Leerink Partners LLC and Cowen and Co., LLC with Wells Fargo Securities, LLC as lead manager
|
| Pricing date: | April 15
|
| Settlement date: | April 21
|
| Stock symbol: | Nasdaq: IMDZ
|
| Stock price: | $27.04 at close April 14
|
| Market capitalization: | $469.49 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
