Deal funds general corporate purposes, including clinical development
By Devika Patel
Knoxville, Tenn., Aug. 5 - BioCryst Pharmaceuticals, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $2.64 million greenshoe in full, lifting total proceeds to $20.24 million. The deal was announced July 30 and priced for $17.6 million with the greenshoe on Aug. 1.
The company sold 4.6 million common shares at $4.40 apiece. The price per share is identical to the July 31 closing share price. Of the shares, 600,000 were part of the fully exercised greenshoe.
Wells Fargo Securities, LLC and JMP Securities LLC are the joint bookrunning managers.
Proceeds will be used for general corporate purposes, including clinical development of BCX4161, development of second generation hereditary angioedema compounds and pre-commercialization activities relating to intravenous peramivir.
Based in Birmingham, Ala., BioCryst develops small-molecule pharmaceuticals for the prevention, treatment and control of cancer, cardiovascular diseases and viral infections.
| Issuer: | BioCryst Pharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $20.24 million (including $2.64 million greenshoe)
|
| Shares: | 4.6 million
|
| Price: | $4.40
|
| Warrants: | No
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| Bookrunners: | Wells Fargo Securities, LLC, JMP Securities LLC
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| Co-manager: | Noble Financial Capital Markets
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| Announcement date: | July 30
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| Pricing date: | Aug. 1
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| Settlement date: | Aug. 5
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| Stock symbol: | Nasdaq: BCRX
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| Stock price: | $4.40 at close July 31
|
| Market capitalization: | $317.29 million
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