Proceeds slated to support clinical activities, research, development
By Devika Patel
Knoxville, Tenn., June 17 – Ocata Therapeutics, Inc. said it priced a $30.25 million public sale of units with a $4.54 million greenshoe.
The company will sell 5.5 million units of one common share and a half-share warrant at $5.50 per unit.
The whole warrants are each exercisable at $7.48 until Dec. 22, 2020. The strike price represents a 20.06% premium to the June 16 closing share price of $6.23.
Jefferies LLC and Cowen and Co., LLC are the bookrunners.
Settlement is expected June 22.
Proceeds will be used for clinical activities, including clinical trials and pre-clinical studies, and general corporate purposes, including working capital, business development, research and development and capital expenditures.
The biotechnology company is based in Marlborough, Mass.
| Issuer: | Ocata Therapeutics, Inc.
|
| Issue: | Units of one common share and a half-share warrant
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| Amount: | $30.25 million
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| Greenshoe: | $4,537,500, or 825,000 units
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| Units: | 5.5 million
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| Price: | $5.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Dec. 22, 2020
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| Warrant strike price: | $7.48
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| Bookrunners: | Jefferies LLC and Cowen and Co., LLC
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| Co-manager: | Raymond James & Associates, Inc.
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| Pricing date: | June 17
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| Settlement date: | June 22
|
| Stock symbol: | Nasdaq: OCAT
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| Stock price: | $6.23 at close June 16
|
| Market capitalization: | $189.04 million
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