Bookrunners Leerink Partners, Canaccord Genuity and Guggenheim assist
By Devika Patel
Knoxville, Tenn., Sept. 16 – Aquinox Pharmaceuticals, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $12.79 million greenshoe in full, lifting total proceeds of the offering to $98.04 million. The deal was announced Sept. 8 and priced for $85.25 million with the greenshoe on Sept. 9.
The company sold 6,325,000 common shares at $15.50 apiece. The price per share is a 1.27% discount to the Sept. 8 closing share price of $15.70. Of the shares, 825,000 were part of the fully exercised greenshoe.
Leerink Partners, Canaccord Genuity and Guggenheim Securities were the bookrunning managers.
Proceeds will be used for phase 3 trials for AQX-1125, research and development, working capital and other general corporate purposes.
The clinical-stage pharmaceutical company is based in Vancouver, B.C.
| Issuer: | Aquinox Pharmaceuticals, Inc.
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| Issue: | Common shares
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| Amount: | $98,037,500, including $12,787,500 greenshoe of 825,000 shares
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| Shares: | 6,325,000
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| Price: | $15.50
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| Warrants: | No
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| Bookrunners: | Leerink Partners, Canaccord Genuity and Guggenheim Securities
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| Lead manager: | Needham & Co
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| Announcement date: | Sept. 8
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 16
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| Stock symbol: | Nasdaq: AQXP
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| Stock price: | $15.70 at close Sept. 8
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| Market capitalization: | $178.29 million
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