Leerink Partners is the bookrunner; Canaccord Genuity, JMP to assist
By Devika Patel
Knoxville, Tenn., May 6 – HTG Molecular Diagnostics, Inc. said it priced its $49.98 million initial public sale of stock with a $7.5 million greenshoe. The deal was announced Dec. 31.
The company will sell 3.57 million common shares at $14.00 apiece.
Leerink Partners LLC is the bookrunning manager.
Ligand Pharmaceuticals Inc. intends to buy about $9 million of the shares at the initial public offering price.
Settlement is expected May 11.
Proceeds will be used for clinical development, research and development, working capital and other general corporate purposes.
The Tucson, Ariz., company designs and markets a novel technology platform to facilitate the routine use of complex molecular profiling. The company intends to list its common stock on the Nasdaq under the symbol “HTGM.”
| Issuer: | HTG Molecular Diagnostics, Inc.
|
| Issue: | Common stock
|
| Amount: | $49.98 million
|
| Greenshoe: | $7,497,000
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| Shares: | 3.57 million
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| Price: | $14.00
|
| Warrants: | No
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| Bookrunner: | Leerink Partners LLC
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| Co-managers: | Canaccord Genuity Inc. and JMP Securities LLC
|
| Announcement date: | Dec. 31
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Stock exchange: | Nasdaq: HTGM
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