Tranzyme Pharma (TZYM) Sells 2.6M at $3.85/Share in Direct Offering
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shares of its common stock at a price of $3.85 per share in a registered
direct offering. The offering will raise gross proceeds to Tranzyme of
approximately $10.0 million before deducting underwriters' discounts and
other offering expenses. Tranzyme has also granted the underwriters a
30-day option to purchase up to an additional fifteen percent of the
shares of common stock offered to cover over-allotments, if any, which
would result in additional gross proceeds of approximately $1.5 million
if exercised in full.
The securities were offered pursuant to an effective shelf registration
statement. The company intends to use the proceeds for working capital
and other general corporate purposes. The Company anticipates that the
offering will close on September 18, 2012, subject to customary closing
conditions, at which time Tranzyme will receive the cash proceeds and
deliver the securities.
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