Credit Suisse, Canaccord Genuity were the joint bookrunning managers
By Devika Patel
Knoxville, Tenn., July 23 – BioAmber Inc. said the underwriters for its public sale of stock opted to exercise the deal’s $5.04 million greenshoe in full, lifting total proceeds of the deal to $38.64 million. The deal was announced July 15 and priced for $33.6 million with the greenshoe on July 16.
The company sold 3.22 million common shares at $12.00 apiece. The price per share is a 15.55% discount to the July 15 closing share price of $14.21. Of the shares, 420,000 were part of the fully exercised greenshoe.
Credit Suisse Securities (USA) LLC and Canaccord Genuity Inc. were the joint bookrunning managers.
Proceeds will be used for working capital and other general corporate purposes.
The chemicals company is based in Minneapolis.
| Issuer: | BioAmber Inc.
|
| Issue: | Common stock
|
| Amount: | $38.64 million, including $5.04 million greenshoe
|
| Shares: | 3.22 million
|
| Price: | $12.00
|
| Warrants: | No
|
| Bookrunners: | Credit Suisse Securities (USA) LLC and Canaccord Genuity Inc.
|
| Announcement date: | July 15
|
| Pricing date: | July 16
|
| Settlement date: | July 23
|
| Stock symbol: | NYSE: BIOA
|
| Stock price: | $14.21 at close July 15
|
| Market capitalization: | $236.89 million
|
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