Deal grants underwriters 30-day greenshoe for 4.89 million more shares
By Marisa Wong
Madison, Wis., April 15 – Biodel Inc. priced a $30 million public offering of common stock on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.
The company will sell 32,608,696 shares at $0.92 apiece. The price per share is a 17.39% premium to the April closing share price of $1.08.
The company also granted the underwriters a 30-day over-allotment option to purchase up to 4,891,304 additional shares.
William Blair and Ladenburg Thalmann are the joint bookrunners with Roth Capital Partners acting as co-manager.
Biodel intends to use the net proceeds from the offering for operating costs, capital expenditures and for general corporate purposes, including working capital.
The offering is expected to close on April 20.
The biopharmaceutical company is based in Danbury, Conn.
| Issuer: | Biodel Inc.
|
| Issue: | Common stock
|
| Amount: | $30 million
|
| Shares: | 32,608,696
|
| Greenshoe: | 4,891,304
|
| Price: | $0.92
|
| Warrants: | No
|
| Bookrunners: | William Blair and Ladenburg Thalmann as joint bookrunners with Roth Capital Partners as co-manager
|
| Pricing date: | April 14
|
| Settlement date: | April 20
|
| Stock symbol: | Nasdaq: BIOD
|
| Stock price: | $1.08 at close April 13
|
| Market capitalization: | $65.24 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
