Synergy Pharmaceuticals prices $45 million public offering
1 days 2 hours 57 minutes ago - Datamonitor Financial Deals Tracker via Comtex
Update on May 3, 2012:
Synergy Pharmaceuticals, Inc., a developer of new drugs to treat gastrointestinal disorders and diseases, has priced an underwritten public offering of 10 million shares of common stock at a price of $4.50 per share for total gross proceeds of $45 million.
Synergy has also granted the underwriters a 45-day option to purchase up to an additional 1.5 million shares of common stock to cover over-allotments, if any. The offering is expected to close on May 9, 2012.
Announcement (May 3, 2012):
Synergy Pharmaceuticals has commenced a public offering of its common stock.
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
Deal Value (US$ Million) 45
Deal Type IPO
Sub-Category Pricing,Secondary Offering
Deal Status Announced: 2012-05-03
Deal Participants
Target (Company) Synergy Pharmaceuticals, Inc. (formerly Pawfect Foods, Inc.)
Deal Rationale
Synergy intends to use the net proceeds from this offering to fund its research and development activities, including its ongoing Phase II/III clinical trial of plecanatide and its Phase I clinical trial of SP-333, and for working capital and other general corporate purposes.
Offer Price ($ per share) 4.5
No. Shares Issued 10000000
1 days 2 hours 57 minutes ago - Datamonitor Financial Deals Tracker via Comtex
Update on May 3, 2012:
Synergy Pharmaceuticals, Inc., a developer of new drugs to treat gastrointestinal disorders and diseases, has priced an underwritten public offering of 10 million shares of common stock at a price of $4.50 per share for total gross proceeds of $45 million.
Synergy has also granted the underwriters a 45-day option to purchase up to an additional 1.5 million shares of common stock to cover over-allotments, if any. The offering is expected to close on May 9, 2012.
Announcement (May 3, 2012):
Synergy Pharmaceuticals has commenced a public offering of its common stock.
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
Deal Value (US$ Million) 45
Deal Type IPO
Sub-Category Pricing,Secondary Offering
Deal Status Announced: 2012-05-03
Deal Participants
Target (Company) Synergy Pharmaceuticals, Inc. (formerly Pawfect Foods, Inc.)
Deal Rationale
Synergy intends to use the net proceeds from this offering to fund its research and development activities, including its ongoing Phase II/III clinical trial of plecanatide and its Phase I clinical trial of SP-333, and for working capital and other general corporate purposes.
Offer Price ($ per share) 4.5
No. Shares Issued 10000000
