JMP and Piper Jaffray are the joint bookrunning managers for offering
By Devika Patel
Knoxville, Tenn., July 29 – Intersect ENT, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $8.25 million greenshoe in full for total proceeds of $63.25 million. The deal priced for $55 million with the greenshoe on July 24.
The company sold 5,750,000 common shares at $11.00 apiece. Of the shares, 750,000 were part of the fully exercised greenshoe.
J.P. Morgan Securities LLC and Piper Jaffray & Co. were the joint bookrunning managers.
Proceeds will be used for clinical trials, development, working capital and other general corporate purposes.
The drug-device company is based in Menlo Park, Calif. It intends to list its common stock on the Nasdaq under the symbol “XENT.”
| Issuer: | Intersect ENT, Inc.
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| Issue: | Common stock
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| Amount: | $63.25 million (including $8.25 million greenshoe)
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| Shares: | 5,750,000
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| Price: | $11.00
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| Warrants: | No
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| Bookrunners: | J.P. Morgan Securities LLC and Piper Jaffray & Co.
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| Co-managers: | Leerink Partners and Wedbush PacGrow Life Sciences
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Stock exchange: | Nasdaq: XENT
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