Bookrunner Lazard Capital Markets helps raise proceeds for operations
By Devika Patel
Knoxville, Tenn., Jan. 25 - BG Medicine, Inc. said it priced a $12 million public sale of stock with a $1.8 million greenshoe. The deal was announced Thursday.
The company will sell 6 million common shares at $2.00 per share. The price per share is a 19.36% discount to the Jan. 24 closing share price of $2.48.
Lazard Capital Markets LLC is the bookrunning manager.
Settlement is expected Jan. 30.
Proceeds will be used for operations, including advancing the commercialization of the company's cardiovascular diagnostic tests in the United States and Europe, and other general corporate purposes, including capital expenditures, licensing of intellectual property, repayment of debt and working capital.
BG Medicine is a Waltham, Mass., life sciences company focused on biomarker-based cardiovascular diagnostics.
| Issuer: | BG Medicine, Inc.
|
| Issue: | Common stock
|
| Amount: | $12 million
|
| Greenshoe: | $1.8 million
|
| Shares: | 6 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Bookrunner: | Jefferies & Co, Inc.
|
| Announcement date: | Jan. 24
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Stock symbol: | Nasdaq: BGMD
|
| Stock price: | $2.48 at close Jan. 24
|
| Market capitalization: | $43.05 million
|
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