Goldman Sachs, J.P. Morgan to assist; deal funds clinical development
By Devika Patel
Knoxville, Tenn., Feb. 13 – Idera Pharmaceuticals, Inc. said it priced its $75 million public offering of stock with an $11.25 million greenshoe. The offering was announced Monday.
The company will sell 20 million common shares at $3.75 per share. The price per share reflects an 11.56% discount to the Feb. 12 closing share price of $4.24.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are the bookrunning managers.
Settlement is expected Feb. 19.
Proceeds will be used for clinical development.
Based in Cambridge, Mass., Idera develops targeted immune therapies based on the modulation of Toll-like receptors.
| Issuer: | Idera Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $75 million
|
| Greenshoe: | $11.25 million
|
| Shares: | 20 million
|
| Price: | $3.75
|
| Warrants: | No
|
| Bookrunners: | Goldman Sachs & Co. and J.P. Morgan Securities LLC
|
| Lead manager: | Piper Jaffray & Co.
|
| Announcement date: | Feb. 9
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 19
|
| Stock symbol: | Nasdaq: IDRA
|
| Stock price: | $4.24 at close Feb. 12
|
| Market capitalization: | $341.52 million
|
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