Bookrunner Cowen helps raise funds for clinical development, research
By Devika Patel
Knoxville, Tenn., March 14 - Cerus Corp. said it priced a $35 million public sale of stock with a $5.25 million greenshoe. The deal was announced Wednesday.
The company will sell 8,333,333 common shares at $4.20 per share. The price per share is identical to the March 13 closing share price.
Cowen and Co., LLC is the sole bookrunning manager.
Settlement is expected March 19.
Proceeds will be used for clinical development and other research and development activities related to the Intercept Blood System, preparatory activities for the potential commercialization of the Intercept Blood System and for other general corporate purposes, including regulatory activity, selling, general and administrative expenses and working capital.
Cerus is a Concord, Calif.-based biomedical products company focused on commercializing the Intercept Blood System, which is designed to inactivate blood-borne pathogens in donated blood components intended for transfusion.
| Issuer: | Cerus Corp.
|
| Issue: | Common stock
|
| Amount: | $35 million
|
| Greenshoe: | $5.25 million
|
| Shares: | 8,333,333
|
| Price: | $4.20
|
| Warrants: | No
|
| Bookrunner: | Cowen and Co., LLC
|
| Co-managers: | Robert W. Baird & Co. Inc., Wedbush PacGrow Life Sciences and Lazard Capital Markets LLC
|
| Announcement date: | March 13
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Stock symbol: | Nasdaq: CERS
|
| Stock price: | $4.20 at close March 13
|
| Market capitalization: | $242.13 million
|
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