J.P. Morgan and Credit Suisse will be the joint bookrunning managers
By Devika Patel
Knoxville, Tenn., Nov. 6 – Coherus BioSciences, Inc. said it priced its $85 million initial public sale of stock with a $12.75 million greenshoe. The deal was announced Sept. 25.
The company will sell 6,296,300 common shares at $13.50 per share.
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the joint bookrunning managers.
Proceeds will be used for clinical development, working capital and other general corporate purposes, including licensing.
The clinical biologics platform company is based in Redwood City, Calif. It intends to list its common stock on the Nasdaq under the symbol “CHRS.”
| Issuer: | Coherus BioSciences, Inc.
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| Issue: | Common stock
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| Amount: | $85 million
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| Greenshoe: | $12.75 million
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| Shares: | 6,296,300
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| Price: | $13.50
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| Warrants: | No
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| Bookrunners: | J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC
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| Lead manager: | Cowen and Co., LLC
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| Announcement date: | Sept. 25
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Stock exchange: | Nasdaq: CHRS
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