Guggenheim Securities is the bookrunner; proceeds fund working capital
By Devika Patel
Knoxville, Tenn., Jan. 10 - Biota Pharmaceuticals, Inc. said it priced a $25 million public offering of stock with a $3.75 million greenshoe. The offering was announced Jan. 9.
The company will sell 5,813,900 common shares at $4.30 per share. The price per share reflects an 8.71% discount to the Jan. 9 closing share price of $4.71.
Guggenheim Securities, LLC is the bookrunning manager.
Settlement is expected Jan. 15.
Proceeds will be used for working capital and general corporate purposes.
The biopharmaceutical company is based in Atlanta.
| Issuer: | Biota Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $24,999,770
|
| Greenshoe: | $3,749,966
|
| Shares: | 5,813,900
|
| Price: | $4.30
|
| Warrants: | No
|
| Bookrunner: | Guggenheim Securities, LLC
|
| Announcement date: | Jan. 9
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 15
|
| Stock symbol: | Nasdaq: BOTA
|
| Stock price: | $4.71 at close Jan. 9
|
| Market capitalization: | $130.47 million
|
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