Published on 4/7/2015 in the Prospect News PIPE Daily.
Trillium greenshoe exercised for $55.15 million stock, preferreds sale
Bookrunners Leerink Partners, Cowen help finance product development
By Devika Patel
Knoxville, Tenn., April 7 – Trillium Therapeutics Inc. said the underwriters for its public offering of common stock and series II non-voting convertible first preferred shares opted to exercise the deal’s $4.45 million stock greenshoe in full for total proceeds of $55.15 million. The deal was announced as a $50 million stock offering on March 11 and priced for $50.7 million with the greenshoe on April 1.
The company sold 1,750,754 common shares and 1,077,605 preferreds at $19.50 per share or per preferred. The price per security is a 3.61% discount to the March 31 closing share price of $20.23. Of the shares, 228,359 were part of the fully exercised stock greenshoe.
The preferreds convert to common shares on a one-for-one basis.
Leerink Partners LLC and Cowen and Co., LLC were the bookrunning managers.
Proceeds will be used for product development, working capital and other general corporate purposes.
The immuno-oncology company is based in Toronto.
| Issuer: | Trillium Therapeutics Inc.
|
| Issue: | Common stock, series II non-voting convertible first preferred shares
|
| Amount: | $55,153,001 (including $4,453,001 greenshoe)
|
| Securities: | 2,828,359
|
| Price: | $19.50
|
| Warrants: | No
|
| Bookrunners: | Leerink Partners LLC and Cowen and Co., LLC
|
| Co-manager: | Oppenheimer & Co. Inc.
|
| Announcement date: | March 11
|
| Pricing date: | April 1
|
| Settlement date: | April 7
|
| Stock symbol: | Nasdaq: TRIL
|
| Stock price: | $20.23 at close March 31
|
| Market capitalization: | $172.81 million
|
|
|
| Stock
|
| Amount: | $34,139,703 (including $4,453,001 greenshoe)
|
| Shares: | 1,750,754
|
|
|
| Preferreds
|
| Amount: | $21,013,298
|
| Shares: | 1,077,605
|
| Conversion rate: | On a one-for-one basis
|
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