SAGE Therapeutics (SAGE) Prices 4.4M Common Stock Offering at $39.75/Share
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Sage Therapeutics (Nasdaq: SAGE) announced the pricing of an underwritten public offering of 4,402,515 shares of its common stock at a public offering price of $39.75 per share, before underwriting discounts. In addition, Sage has granted the underwriters a 30-day option to purchase up to an additional 660,377 shares of its common stock.
J.P. Morgan Securities LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC and Leerink Partners LLC are serving as lead managers. Canaccord Genuity Inc. and William Blair & Company, L.L.C. are serving as co-managers. The offering is expected to close on September 14, 2016, subject to customary closing conditions.
Sage anticipates the total gross proceeds from the offering (before deducting underwriters' discounts and commissions and estimated offering expenses) will be approximately $175.0 million, excluding any exercise of the underwriters' option to purchase additional shares.
The shares are being offered by Sage pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on September 7, 2016. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Third-Party Said Interested in PrivateBancorp (PVTB) as CIBC (CM) Deal is Delayed
- Valley National (VLY) Announces 8.4M Share Stock Offering
- Humana (HUM) Writes Corridor Receivables Off; Cites Affordable Care Act
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesWilliam Blair, JPMorgan, Cowen & Co, Canaccord Genuity
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!