Bookrunners Piper Jaffray, Barclays Capital will assist with offering
By Devika Patel
Knoxville, Tenn., Sept. 9 – CoLucid Pharmaceuticals Inc. said it priced a $65 million public sale of stock with a $9.75 million greenshoe. The deal was announced Thursday.
The company will sell 3.25 million common shares at $20.00 per share. The price per share is a 3.1% discount to the Sept. 8 closing share price of $20.64.
Piper Jaffray & Co. and Barclays are the bookrunners.
The company’s investment adviser, Solar Capital Partners, has agreed to bear all of the sales load payable to the underwriters in this offering.
Settlement is expected Sept. 14.
Proceeds will be used for clinical trials, studies, working capital and general corporate purposes.
The biopharmaceutical company is based in Burlington, Mass.
| Issuer: | CoLucid Pharmaceuticals Inc.
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| Issue: | Common stock
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| Amount: | $65 million
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| Greenshoe: | $9.75 million, or 487,500 shares
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| Shares: | 3.25 million
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| Price: | $20.00
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| Warrants: | No
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| Bookrunners: | Piper Jaffray & Co. and Barclays
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| Lead manager: | Stifel, Nicolaus & Co. Inc.
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| Co-manager: | Ladenburg Thalmann
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| Announcement date: | Sept. 8
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 14
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| Stock symbol: | Nasdaq: CLCD
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| Stock price: | $20.64 at close Sept. 8
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| Market capitalization: | $333.09 million
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