Deal offers 6.25 million shares at $6.00 per share through agent Cowen
By Devika Patel
Knoxville, Tenn., Jan. 28 - Alimera Sciences Inc. obtained commitments for a $37.5 million private placement of stock on Jan. 27, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company will sell 6.25 million common shares at $6.00 per share, which is a 2.6% discount to the Jan. 24 closing share price of $6.16.
Cowen and Co., LLC is the agent.
Proceeds will be used for general corporate and working capital purposes.
"This financing will provide us with working capital to support our continued commercialization of Iluvien in Europe and the ongoing pursuit of FDA approval in the United States," president and chief executive officer Dan Myers said in a press release.
Atlanta-based Alimera Sciences develops and markets ophthalmology pharmaceuticals.
| Issuer: | Alimera Sciences Inc.
|
| Issue: | Common stock
|
| Amount: | $37.5 million
|
| Shares: | 6.25 million
|
| Price: | $6.00
|
| Warrants: | No
|
| Agent: | Cowen and Co., LLC
|
| Pricing date: | Jan. 27
|
| Stock symbol: | Nasdaq: ALIM
|
| Stock price: | $6.16 at close Jan. 24
|
| Market capitalization: | $210.05 million
|
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