Bookrunners Cowen and RBC, co-manager Craig-Hallum assist with offer
By Devika Patel
Knoxville, Tenn., April 29 – Alliqua BioMedical, Inc. said it priced a $30 million public sale of stock with a $4.5 million greenshoe. The deal was announced Tuesday.
The company will sell 6,593,407 common shares at $4.55 apiece. The price per share is a 6.76% discount to the April 28 closing share price of $4.88.
Cowen and Co., LLC and RBC Capital Markets, LLC are the bookrunners.
Settlement is expected May 4.
Proceeds will be used for expansion, working capital and general corporate purposes.
The biomedical products company is based in New York and specializes in wound care.
| Issuer: | Alliqua BioMedical, Inc.
|
| Issue: | Common shares
|
| Amount: | $30 million
|
| Greenshoe: | $4.5 million
|
| Shares: | 6,593,407
|
| Price: | $4.55
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co., LLC and RBC Capital Markets, LLC
|
| Co-manager: | Craig-Hallum Capital Group LLC
|
| Announcement date: | April 28
|
| Pricing date: | April 29
|
| Settlement date: | May 4
|
| Stock symbol: | Nasdaq: ALQA
|
| Stock price: | $4.88 at close April 28
|
| Market capitalization: | $81.57 million
|
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