Company offers shares through sole bookrunning manager Aegis Capital
By Devika Patel
Knoxville, Tenn., March 7 - Ceres, Inc. said the underwriters for its public sale of stock opted to exercise the deal's $3 million greenshoe in full for total proceeds of $23 million. The deal was announced Jan. 24 and priced for $20 million with the greenshoe on March 5.
The company will now sell 23 million common shares at $1.00 per share. The price per share is a 21.88% discount to the March 4 closing share price of $1.28. Of the shares, 3 million were part of the fully exercised greenshoe.
Aegis Capital Corp. was the sole bookrunner.
Settlement is expected March 10.
Proceeds will be used for general corporate purposes, including working capital.
Ceres is an agricultural biotechnology company based in Thousand Oaks, Calif.
| Issuer: | Ceres, Inc.
|
| Issue: | Common stock
|
| Amount: | $23 million (including $3 million greenshoe)
|
| Shares: | 23 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Jan. 24
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Stock symbol: | Nasdaq: CERE
|
| Stock price: | $1.28 at close March 4
|
| Market capitalization: | $26.71 million
|
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