Deal funds research, development, working capital, corporate purposes
By Devika Patel
Knoxville, Tenn., June 15 – Champions Oncology, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $675,000 greenshoe in part, lifting total proceeds of the offering to $5.08 million. The deal was announced on April 26 and priced for $4.5 million with the greenshoe on June 9.
The company sold 2,258,749 common shares at $2.25 per share. The price per share is a 7.79% discount to the June 8 closing share price of $2.44. Of the shares, 258,749 were for the partially exercised greenshoe.
National Securities Corp. was the bookrunner.
Proceeds will be used for research and development, working capital and general corporate purposes.
The Hackensack, N.J., company develops technology services to personalize the development and use of oncology drugs.
| Issuer: | Champions Oncology, Inc.
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| Issue: | Common stock
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| Amount: | $5,082,185, including $582,185 greenshoe of 258,749 shares
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| Shares: | 2,258,749
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| Price: | $2.25
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| Warrants: | No
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| Bookrunner: | National Securities Corp.
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| Announcement date: | April 26
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| Pricing date: | June 9
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| Settlement date: | June 15
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| Stock symbol: | Nasdaq: CSBR
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| Stock price: | $2.44 at close June 8
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| Market capitalization: | $19.77 million
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