Raises deal from $55 million; bookrunners are Jefferies, Citigroup
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – Aclaris Therapeutics, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $8.25 million greenshoe in full, lifting total proceeds of the offering to $63.25 million.
The deal was announced on Aug. 17 and priced for $55 million with the greenshoe on Oct. 6.
With the over-allotment option, the company sold 5.75 million common shares at $11 apiece.
Jefferies LLC and Citigroup Global Markets Inc. are the bookrunners.
Proceeds will be used for clinical trials, research and development, working capital and other general corporate purposes.
The pharmaceutical company is based in Malvern, Pa. The company intends to list its common stock on the Nasdaq under the symbol “ACRS.”
| Issuer: | Aclaris Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $63.25 million, including $8.25 million greenshoe of 750,000 shares
|
| Shares: | 5.75 million
|
| Price: | $11.00
|
| Warrants: | No
|
| Bookrunners: | Jefferies LLC and Citigroup Global Markets Inc.
|
| Co-manager: | William Blair & Co., LLC
|
| Announcement date: | Aug. 17
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 13
|
| Stock symbol: | Nasdaq: ACRS
|
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