Deal has a $1.83 million greenshoe; proceeds fund corporate purposes
By Devika Patel
Knoxville, Tenn., June 20 - AspenBio Pharma, Inc. said Tuesday that it has priced a $12.2 million public offering of stock with a $1.83 million greenshoe. Aegis Capital Corp. is the bookrunner for the deal, which was announced April 12.
The company will sell 6.1 million common shares $2.00 per share. The price per share reflects a 292.16% premium to the June 18 closing share price of $0.51. The number of shares to be sold and offering price reflect a one-for-six reverse stock split implemented by the company on Wednesday.
Settlement is expected June 25.
Proceeds will be used for general corporate purposes, including a clinical trial for AppyScore and working capital purposes.
AspenBio is a biopharmaceutical company based in Castle Rock, Colo.
| Issuer: | AspenBio Pharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $12.2 million
|
| Greenshoe: | $1.83 million
|
| Shares: | 6.1 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | April 12
|
| Pricing date: | June 19
|
| Settlement date: | June 25
|
| Stock symbol: | Nasdaq: APPY
|
| Stock price: | $0.51 at close June 18
|
| Market capitalization: | $19.12 million
|
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