Aegis Capital assists in raising funds for working capital, research
By Devika Patel
Knoxville, Tenn., Dec. 13 - Synthetic Biologics Inc. said the underwriters for its public offering of stock opted to exercise the deal's $1.73 million greenshoe in full for total proceeds of $13.23 million. The offering was announced and priced for $11.5 million with the greenshoe on Wednesday.
The company sold 13,225,000 common shares at $1.00 per share. The price per share reflects a 25.93% discount to the Dec. 10 closing share price of $1.35. Of the shares, 1,725,000 comprised the greenshoe.
Aegis Capital Corp. was the sole bookrunner.
Settlement is expected Dec. 17.
Proceeds will be used for working capital, research and development and capital expenditures and to acquire intellectual property.
Based in Rockville, Md., Synthetic is a biotechnology company.
| Issuer: | Synthetic Biologics Inc.
|
| Issue: | Common stock
|
| Amount: | $13,225,000 (including $1,725,000 greenshoe)
|
| Shares: | 13,225,000
|
| Price: | $1.00
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Dec. 11
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 17
|
| Stock symbol: | NYSE: SYN
|
| Stock price: | $1.35 at close Dec. 10
|
| Market capitalization: | $45.55 million
|
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