Bookrunning manager Roth Capital helps sells series A, series B units
By Devika Patel
Knoxville, Tenn., Aug. 13 – BG Medicine, Inc. said it priced a $2.5 million public offering of units with a $2.25 million greenshoe. The offering was announced Wednesday.
The company will sell 2,315,654 series A units of one common share and a half-share warrant at $1.00 per unit and 184,346 series B units of one prefunded warrant and a half-share warrant at $1.00 per unit.
Each whole warrant will be exercisable at $1.00. The strike price is a 32.43% discount to the Aug. 12 closing share price of $1.48.
Roth Capital Partners is the bookrunner.
Settlement is expected Aug. 18.
Proceeds will be used for automated tests for galectin-3, expansion of clinical claims and indications for galectin-3 testing, and other general corporate purposes, including working capital, intellectual property protection, enforcement and in-licensing, capital expenditures and collaborations.
BG Medicine is a Waltham, Mass., life sciences company focused on biomarker-based cardiovascular diagnostics.
| Issuer: | BG Medicine, Inc.
|
| Issue: | Series A units of one common share and a half-share warrant, series B units of one prefunded warrant and a half-share warrant
|
| Amount: | $2.5 million
|
| Price: | $1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | $1.00
|
| Bookrunner: | Roth Capital Partners
|
| Announcement date: | Aug. 12
|
| Pricing date: | Aug. 13
|
| Settlement date: | Aug. 18
|
| Stock symbol: | Nasdaq: BGMD
|
| Stock price: | $1.48 at close Aug. 12
|
| Market capitalization: | $7.97 million
|
|
|
| Series A units
|
| Amount: | $2,315,654
|
| Units: | 2,315,654
|
|
|
| Series B units
|
| Amount: | $184,346
|
| Units: | 184,346
|
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