Cowen, Stifel, Oppenheimer and JMP Securities to assist with offering
By Devika Patel
Knoxville, Tenn., Aug. 1 – Loxo Oncology, Inc. said it priced its $68.4 million initial public sale of stock with a $10.26 million greenshoe. The deal was announced on June 30.
The company will sell 5,261,538 common shares at $13.00 apiece.
Cowen and Co., LLC and Stifel are the joint bookrunning managers.
Proceeds will be used for clinical trials, research and development, working capital and general corporate purposes.
Concurrently with the offering, the company is also selling 230,769 shares at the same price through a private placement with New Enterprise Associates 14, LP.
The Stamford, Conn., company develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. The company intends to list its common stock on the Nasdaq under the symbol “LOXO.”
Issuer: | Loxo Oncology, Inc.
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Issue: | Common stock
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Amount: | $68,399,994
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Greenshoe: | $10,259,990
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Shares: | 5,261,538
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Price: | $13.00
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Warrants: | No
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Bookrunners: | Cowen and Co., LLC and Stifel
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Co-managers: | JMP Securities LLC and Oppenheimer & Co. Inc.
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Announcement date: | June 30
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Pricing date: | Aug. 1
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Stock exchange: | Nasdaq: LOXO
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