Cowen, Piper Jaffray, Blair, JMP Securities and Trout Capital assist
By Devika Patel
Knoxville, Tenn., Jan. 7 – Adamas Pharmaceuticals, Inc. said it priced a $57.5 million public offering of stock with an $8.63 million greenshoe. The deal was announced Tuesday.
The company will sell 2.5 million common shares at $23.00 per share. The price per share is a 2.71% discount to the Jan. 6 closing share price of $23.64.
Cowen and Co. and Piper Jaffray are the bookrunners.
Settlement is expected Jan. 12.
Proceeds will be used for general corporate purposes.
The pharmaceutical company is based in Emeryville, Calif.
| Issuer: | Adamas Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $57.5 million
|
| Greenshoe: | $8,625,000, or 375,000 shares
|
| Shares: | 2.5 million
|
| Price: | $23.00
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co. and Piper Jaffray
|
| Co-managers: | William Blair, JMP Securities and Trout Capital
|
| Announcement date: | Jan. 5
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
| Stock symbol: | Nasdaq: ADMS
|
| Stock price: | $23.64 at close Jan. 6
|
| Market capitalization: | $452.08 million
|
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