Deal sells units of stock or preferreds with two three-year warrants
By Devika Patel
Knoxville, Tenn., Aug. 22 – MabVax Therapeutics Holdings, Inc. said the underwriters for its public offering of units opted to exercise the deal’s greenshoe in full for about $800,000 additional units of common stock and warrants, lifting total proceeds of the offering to about $9.4 million. The deal priced for $8.63 million with the greenshoe on Aug. 16.
The company sold stock units of one common share and two warrants at $4.81 per unit and preferred units of one series F preferred share and two warrants at $4.81 per unit.
Each warrant is exercisable until Aug. 22, 2019. The first warrant is exercisable at $5.55, and the second warrant is exercisable at $6.29. The strike prices are 753.85% and 867.69% premiums to the Aug. 15 closing price of $0.65.
Each preferred converts to common shares at $4.81 per share, which is a 640% premium to the Aug. 15 closing price.
Laidlaw & Co. (UK) Ltd. was the underwriter.
The biopharmaceutical company is based in San Diego.
| Issuer: | MabVax Therapeutics Holdings, Inc.
|
| Issue: | Units of one common share and two warrants, units of one series F preferred share and two warrants
|
| Amount: | $9.4 million, including about $800,000 greenshoe for additional stock units
|
| Price: | $4.81
|
| Conversion price: | $4.81 (preferreds)
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Aug. 22, 2019
|
| Warrant strike prices: | $5.55, $6.29
|
| Underwriter: | Laidlaw & Co. (UK) Ltd.
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 22
|
| Stock symbol: | OTCBB: MBVX
|
| Stock price: | $0.65 at close Aug. 15
|
| Market capitalization: | $20.98 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
