NeuroDerm prices $66.89 million public offering of its stock at $17.00

Bookrunners Jefferies and Cowen help fund clinical trials, research

By Devika Patel

Knoxville, Tenn., July 16 – NeuroDerm Ltd. said it priced a $66.89 million public sale of stock with a $10.03 million greenshoe on Wednesday. The deal was announced July 2.

The company will sell 3,934,520 ordinary shares at $17.00 apiece. The price per share is a 6.32% premium to the July 14 closing share price of $15.99.

Jefferies LLC and Cowen and Co., LLC are the bookrunning managers.

Proceeds will be used for clinical trials, research and development, working capital and general corporate purposes.

The clinical-stage pharmaceutical company is based in Rehovot, Israel.

Issuer:	NeuroDerm Ltd.
Issue:	Ordinary shares
Amount:	$66,886,840
Greenshoe:	$10,033,026, or 590,178 shares
Shares:	3,934,520
Price:	$17.00
Warrants:	No
Bookrunners:	Jefferies LLC and Cowen and Co., LLC
Co-managers:	Raymond James & Associates, Inc. and Roth Capital Partners, LLC
Announcement date:	July 2
Pricing date:	July 15
Stock symbol:	Nasdaq: NDRM
Stock price:	$15.99 at close July 14
Market capitalization:	$320.39 million

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