Barclays, Cowen and Jefferies are bookrunners; JMP and Needham assist
By Devika Patel
Knoxville, Tenn., Dec. 4 – Trevena, Inc. said it priced a $45 million public offering of stock with a $6.75 million greenshoe. The offering was announced Nov. 20.
The company will sell 11.25 million common shares at $4.00 per share. The price per share reflects a 2.62% discount to the Dec. 3 closing share price of $4.22.
Barclays, Cowen and Co., LLC and Jefferies LLC are the bookrunning managers.
Proceeds will be used for clinical development expenses, including clinical trials, development activities, preclinical research and development, working capital and general corporate purposes.
The clinical-stage biopharmaceutical company is based in King of Prussia, Pa.
| Issuer: | Trevena, Inc.
|
| Issue: | Common stock
|
| Amount: | $45 million
|
| Greenshoe: | $6.75 million
|
| Shares: | 11.25 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunners: | Barclays Capital Inc., Cowen and Co., LLC and Jefferies LLC
|
| Co-managers: | JMP Securities LLC and Needham & Co., LLC
|
| Announcement date: | Nov. 20
|
| Pricing date: | Dec. 3
|
| Stock symbol: | Nasdaq: TRVN
|
| Stock price: | $4.22 at close Dec. 3
|
| Market capitalization: | $107.35 million
|
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