Leerink and Cowen were bookrunners; Canaccord Genuity, JMP assisted
By Devika Patel
Knoxville, Tenn., June 24 – Zafgen, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal’s $14.4 million greenshoe in full for total proceeds of $110.4 million. The deal was announced April 21 and priced for $96 million with the greenshoe on June 18.
The company sold 6.9 million common shares at $16.00 apiece. Of the shares, 900,000 were part of the fully exercised greenshoe.
Leerink Partners LLC and Cowen and Co., LLC were the joint bookrunning managers.
Proceeds will be used for studies and clinical development, clinical trials, research and development, working capital and other general corporate purposes.
The biopharmaceutical company is based in Cambridge, Mass. The company intends to list its common stock on the Nasdaq under the symbol “ZFGN.”
| Issuer: | Zafgen, Inc.
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| Issue: | Common stock
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| Amount: | $110.4 million (including $14.4 million greenshoe)
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| Shares: | 6.9 million
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| Price: | $16.00
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| Warrants: | No
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| Bookrunners: | Leerink Partners LLC and Cowen and Co., LLC
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| Co-managers: | Canaccord Genuity Inc. and JMP Securities LLC
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| Announcement date: | April 21
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| Pricing date: | June 18
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| Settlement date: | June 24
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| Stock exchange: | Nasdaq: ZFGN
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