Deal sells stock, warrants via Roth Capital Partners, Rodman & Renshaw
By Devika Patel
Knoxville, Tenn., March 18 – Bio Blast Pharma Ltd. offered further details about a $6.7 million registered direct offering of stock in prospectus supplement filed Friday with the Securities and Exchange Commission. Roth Capital Partners, LLC and Rodman & Renshaw are the agents for the deal, which priced on Thursday.
The company will sell 2,161,290 ordinary shares. The purchase price, $3.10 per share, reflects a 24.02% discount to the $4.08 closing share price on March 16.
The company also will issue 66-month warrants for 1,080,645 shares, each exercisable at $4.50, which is a 10.29% premium to the March 16 closing share price.
Settlement is expected March 22.
The biopharmaceutical company is based in Tel Aviv.
| Issuer: | Bio Blast Pharma Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | $6,699,999
|
| Shares: | 2,161,290
|
| Price: | $3.10
|
| Warrants: | For 1,080,645 shares
|
| Warrant expiration: | 66 months
|
| Warrant strike price: | $4.50
|
| Agents: | Roth Capital Partners, LLC and Rodman & Renshaw
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Stock symbol: | Nasdaq: ORPN
|
| Stock price: | $4.08 at close March 16
|
| Market capitalization: | $41.84 million
|
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