Date: 2015-01-13
Type of information: Private placement
Company: Cempra (USA - NC)
Investors:
Amount: $120.6 million
Funding type: private placement
Planned used: Cempra intends to use the net proceeds from the offering to fund its research and development activities, including continued clinical and regulatory development of solithromycin in community acquired bacterial pneumonia (CABP) and gonorrhea and Taksta™ in bone and joint infections, preparation for commercial readiness for solithromycin in CABP, working capital and general corporate and administrative expenses.
Others: * On January 13, 2015, Cempra announced that it has completed its previously announced underwritten public offering of 5,250,000 shares of common stock, plus an additional 787,500 shares issued pursuant to the full exercise by the underwriters of their option to purchase additional shares at a public offering price of $24.50 per share. The full exercise of the option increases the net proceeds to the company, after underwriting discounts and commissions and expected expenses of the offering expenses, from approximately $120.6 million to approximately $138.7 million. * On January 7, 2015, Cempra announced that it has priced an underwritten public offering of 5,250,000 shares of its common stock at a price of $24.50 per share for aggregate gross proceeds of approximately $128.6 million. Net proceeds after underwriting discounts and commissions and expenses of the offering are expected to be approximately $120.6 million. The company also has granted the underwriters a 30-day option to purchase up to an additional 787,500 shares, which would result in additional net proceeds of approximately $18.1 million, if exercised in full. The offering is expected to close on or about January 13, 2015, subject to satisfaction of customary closing conditions. * On January 5, 2015, Cempra announced its intention to offer and sell shares of its common stock with an aggregate public offering price of approximately $100 million in an underwritten public offering pursuant to its existing shelf registration statement. The company also intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the public offering with an aggregate public offering price of approximately $15 million. 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. Morgan Stanley & Co. LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering.
Therapeutic area: Infectious diseases
