Bookrunners Rodman & Renshaw and Joseph Gunnar will assist with sale
By Devika Patel
Knoxville, Tenn., Oct. 23 – Oasmia Pharmaceutical AB said it priced a $9.5 million initial public offering of American Depositary Shares with a $1.43 million greenshoe. The deal was announced July 6.
The company will sell 2,339,200 ADS at $4.06 per ADS.
Each ADS represents three ordinary shares.
Investors will also receive one warrant for every two ADS, for a total of 1,169,600 warrants. Each warrant has a purchase price of $0.0025 and is exercisable at $4.06 for 10 years.
Rodman & Renshaw and Joseph Gunnar & Co., LLC are the bookrunners.
Settlement is expected Oct. 28.
Proceeds will be used for clinical trials, product development and general corporate purposes.
The pharmaceutical company is based in Uppsala, Sweden. The company has applied to list the ADSs on the Nasdaq under the symbol “OASM.”
| Issuer: | Oasmia Pharmaceutical AB
|
| Issue: | American Depositary Shares
|
| Amount: | $9,500,076
|
| Greenshoe: | $1,425,011, or 350,880 ADS and warrants for 175,440 ADSs
|
| ADS: | 2,339,200
|
| Price: | $4.06
|
| Warrants: | One warrant for every two ADS, 1,169,600 warrants
|
| Warrant price: | $0.0025
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $4.06
|
| Bookrunners: | Rodman & Renshaw and Joseph Gunnar & Co., LLC
|
| Announcement date: | July 6
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 28
|
| Stock symbol: | Nasdaq: OASM
|
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