Bookrunners Rodman & Renshaw and Joseph Gunnar will assist with sale
By Devika Patel
Knoxville, Tenn., Nov. 5 – Oasmia Pharmaceutical AB said the underwriters for its initial public offering of American Depositary Shares opted to exercise the deal’s $1.43 million greenshoe in part, lifting total proceeds of the offering to $10.4 million. The deal was announced July 6 and priced for $9.5 million with the greenshoe on Oct. 23.
The company sold 2,561,500 ADS at $4.06 per ADS.
Each ADS represents three ordinary shares.
Investors also received 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.
Of the ADS, 222,300 were part of the partially exercised greenshoe. Of the warrants, 111,150 were part of the greenshoe.
Rodman & Renshaw and Joseph Gunnar & Co., LLC were the bookrunners.
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: | $10,399,690, including $902,538 greenshoe of 222,300 ADS and warrants for 111,150 ADSs
|
| ADS: | 2,561,500
|
| 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: | Nov. 5
|
| Stock symbol: | Nasdaq: OASM
|
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