Joint bookrunners Jefferies and Leerink Partners assist with offering
By Devika Patel
Knoxville, Tenn., June 25 – Heron Therapeutics, Inc. said it priced its $52.88 million public sale of stock with a $7.93 million greenshoe. The deal was announced Tuesday.
The company will sell 4.5 million common shares at $11.75 apiece. The price per share is a 7.99% discount to the June 24 closing share price of $12.77.
As a component of the offering, in lieu of common stock, certain large investors may receive pre-funded warrants for 600,000 shares at $11.74 per warrant, which is an 8.07% discount to the June 24 closing share price.
Jefferies LLC and Leerink Partners LLC are the joint bookrunning managers.
Settlement is expected June 30.
Proceeds will be used for general corporate purposes and clinical trials.
The pharmaceutical company is based in Redwood City, Calif.
| Issuer: | Heron Therapeutics, Inc.
|
| Issue: | Common shares
|
| Amount: | $52,875,000
|
| Greenshoe: | $7,931,250
|
| Shares: | 4.5 million
|
| Price: | $11.75
|
| Warrants: | For 600,000 shares
|
| Warrant price: | $11.74
|
| Bookrunners: | Jefferies LLC and Leerink Partners LLC
|
| Co-managers: | JMP Securities LLC, Brean Capital, LLC and Noble Financial Group, Inc.
|
| Announcement date: | June 24
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Stock symbol: | Nasdaq: HRTX
|
| Stock price: | $12.77 at close June 24
|
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