Bookrunner Lazard Capital Markets helps raise proceeds for operations
By Devika Patel
Knoxville, Tenn., Jan. 30 - BG Medicine, Inc. said the underwriters for a public sale of stock opted to exercise the $1.8 million greenshoe in full for total proceeds of $13.8 million. The deal was announced Jan. 24 and priced for $12 million on Jan. 25.
The company sold 6.9 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. Of the shares, 900,000 were part of the fully exercised greenshoe.
Lazard Capital Markets LLC was the bookrunning manager.
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: | $13.8 million (including $1.8 million greenshoe)
|
| Shares: | 6.9 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Bookrunner: | Lazard Capital Markets LLC
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| Announcement date: | Jan. 24
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Stock symbol: | Nasdaq: BGMD
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| Stock price: | $2.48 at close Jan. 24
|
| Market capitalization: | $42.64 million
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