Cowen, RBC Capital, Canaccord Genuity and Oppenheimer assist with sale
By Devika Patel
Knoxville, Tenn., April 16 – KemPharm, Inc. said it priced its $56 million initial public offering of stock with an $8.4 million greenshoe on Wednesday. The deal was announced March 11.
The company will sell 5,090,909 common shares at $11.00 apiece.
Cowen and Co. and RBC Capital Markets are the bookrunning managers.
Settlement is expected April 21.
Proceeds will be used for clinical trials, research and development, working capital and other general corporate purposes.
The clinical-stage specialty pharmaceutical company is based in Coralville, Iowa. The company intends to list its common stock on the Nasdaq under the symbol “KMPH.”
| Issuer: | KemPharm, Inc.
|
| Issue: | Common stock
|
| Amount: | $56 million
|
| Greenshoe: | $8.4 million
|
| Shares: | 5,090,909
|
| Price: | $11.00
|
| Warrants: | No
|
| Bookrunners: | Cowen and Co. and RBC Capital Markets
|
| Co-managers: | Canaccord Genuity and Oppenheimer & Co.
|
| Announcement date: | March 11
|
| Pricing date: | April 15
|
| Settlement date: | April 21
|
| Stock exchange: | Nasdaq: KMPH
|
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