Date: 2018-05-29
Type of information: Private placement
Company: Melinta Therapeutics (USA - CT)
Investors:
Amount:
Funding type: private placement
Planned used:
- Melinta intends to use the net proceeds from the proposed sale of its shares of common stock for general corporate purposes, including to:
- -invest in its industry leading portfolio of antibiotics, including potential expansion of its field sales force to drive growth;
- -invest in the supply chain to optimize manufacturing processes and improve cost of goods;
- -fund future milestone obligations primarily related to receipt of approval of Vabomere™(meropenem and vaborbactam) for European commercialization and payments to The Medicines Company as part of the infectious disease business acquisition;
- -capitalize on potential business development opportunities; and fund working capital.
Others:
- • On May 29, 2018, Melinta Therapeutics, announced that the underwriters of its recently announced public offering of 22,000,000 shares of its common stock have exercised in full their option purchase an additional 2,640,000 shares. The offering, including the sale of the additional shares, closed on May 29, 2018. Gross proceeds from the offering were $123,200,000, before deducting underwriting discounts and commissions and expenses paid.
- • On May 23, 2018, Melinta Therapeutics announced the pricing of the underwritten public offering of 22,000,000 shares of its common stock at $5.00 per share, before underwriting discounts and commissions. The size of the offering was upsized from $75,000,000 to $110,000,000. In addition, the underwriters have a 30-day option to purchase up to an additional 2,640,000 shares of common stock from Melinta on the same terms and conditions. The offering is expected to close on May 29, 2018, subject to customary closing conditions.
- • On May 21, 2018, Melinta Therapeutics announced that it has commenced an underwritten public offering of shares of its common stock to raise aggregate proceeds of approximately $75,000,000. All of the shares of the common stock to be sold in the offering are to be sold by Melinta. Certain of Melinta’s principal and other shareholders and their respective affiliates and associates, as well as certain of Melinta’s directors and executive officers, have indicated an interest in purchasing shares of our common stock in the offering at the public offering price with an aggregate value of up to $50,000,000.
- J.P. Morgan and Jefferies are acting as joint bookrunners for the offering. Cantor Fitzgerald & Co. is acting as lead manager for the offering.
- In addition, Melinta intends to grant the underwriters a 30-day option to purchase up to an additional $11,250,000 of shares on the same terms and conditions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Therapeutic area: Infectious diseases
Is general: Yes
