Atreca, Inc. a biopharmaceutical company has priced the 7,031,250 Class A Common Stock shares and 781,250 Class B Common Stock shares for the previously announced underwritten public offering at a public rate of $16.00 per share.
Atreca will earn total gross proceeds of about $125 million from the offering, the expected amount before the deduction of underwriting discounts and commissions and other estimated expenses related to offering. The company itself offered all these shares to public.
Underwriters are allowed to purchase up to 1,171,875 additional Class A Common Stock shares at the public offering price as company has granted a underwriters a 30-day option purchase under the same terms and conditions. Underwriting discounts and commissions are deducted from the option purchase price. Pursuant to the conditions, the last date for offering is July 20, 2020 if it meets the customary closing conditions.
The company working as joint book-running managers for the Atreca underwritten public offering includes, Cowen and Company, Evercore Group and Stifel, Nicolaus & Company. Canaccord Genuity LLC is performing the work of lead manager for the offering. While the offering has also co-managers to oversee the proceedings which include Roth Capital Partners and Arcadia Securities, LLC’s Brookline Capital Markets.
Atreca being a biopharmaceutical company is involved in utilizing its differentiated platform to discover and develop novel antibody-based immunotherapeutics to treat a range of solid tumor types, will use the net proceeds for several purposes which include but not limited to general and corporate expenses.
Atreca, Inc. public stock has current market value of $14.87 per share with market capitalization of $399.53 million on 28.02 million outstanding shares.
