BioAmber Inc (BIOA) has priced an underwritten public offering of an aggregate of 14,666,667 shares of common stock of the company, to be sold together in fixed combination with warrants to purchase up to 14,666,667 shares of common stock of the company at a price to the public of $0.75 per share and associated warrant.
The closing of the offering is expected to occur on or about 11 August 2017.
The warrants have an exercise price of $0.75 and a term of five (5) years, exercisable upon the date of issuance. The aggregate gross proceeds to the company (assuming no exercise of the warrants) are $11 million, before deducting underwriting discounts and commissions and estimated offering expenses.
The company has granted to the underwriters a 30-day option (over-allotment option) to purchase up to an additional 2.2 million shares of common stock and/or warrants to purchase up to 2.2 million shares of common stock of the company, for potentially additional aggregate proceeds to the company of up to approximately $1.65 million (assuming no exercise of the warrants) before deducting underwriting discounts and commissions and estimated offering expenses.
In the event the over-allotment option is exercised in full, the aggregate gross proceeds to the company (assuming no exercise of the warrants) will be approximately $12.65 million.
BioAmber Inc (BIOA) has priced an underwritten public offering of an aggregate of 14,666,667 shares of common stock of the company, to be sold together in fixed combination with warrants to purchase up to 14,666,667 shares of common stock of the company at a price to the public of $0.75 per share and associated warrant.
The closing of the offering is expected to occur on or about 11 August 2017.
The warrants have an exercise price of $0.75 and a term of five (5) years, exercisable upon the date of issuance. The aggregate gross proceeds to the company (assuming no exercise of the warrants) are $11 million, before deducting underwriting discounts and commissions and estimated offering expenses.
The company has granted to the underwriters a 30-day option (over-allotment option) to purchase up to an additional 2.2 million shares of common stock and/or warrants to purchase up to 2.2 million shares of common stock of the company, for potentially additional aggregate proceeds to the company of up to approximately $1.65 million (assuming no exercise of the warrants) before deducting underwriting discounts and commissions and estimated offering expenses.
In the event the over-allotment option is exercised in full, the aggregate gross proceeds to the company (assuming no exercise of the warrants) will be approximately $12.65 million.
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