Jefferies, Piper Jaffray, Canaccord Genuity, Oppenheimer assist
By Devika Patel
Knoxville, Tenn., Aug. 4 – Zynerba Pharmaceuticals, Inc. said it priced its $42 million initial public sale of stock with a $6.3 million greenshoe. The deal was announced June 30.
The company will sell 3 million common shares at $14.00 per share.
Jefferies LLC and Piper Jaffray & Co. are the bookrunners.
Proceeds will be used for development, preclinical studies, clinical trials, working capital, research and development and general corporate purposes.
The pharmaceutical company is based in Devon, Pa. Its common stock has been approved for listing on the Nasdaq under the symbol “ZYNE.”
| Issuer: | Zynerba Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $42 million
|
| Greenshoe: | $6.3 million, or 450,000 shares
|
| Shares: | 3 million
|
| Price: | $14.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Piper Jaffray & Co.
|
| Co-managers: | Canaccord Genuity Inc. and Oppenheimer & Co. Inc.
|
| Announcement date: | June 30
|
| Pricing date: | Aug. 4
|
| Stock symbol: | Nasdaq: ZYNE
|
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