Liquidia Announces Closing of Public Offering of Common Stock
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Liquidia Technologies (NASDAQ: LQDA) has successfully closed a public offering of 9,375,000 shares at $8.00 each, generating total gross proceeds of $75 million. This offering follows a previously filed registration statement with the SEC. The underwriters have a 30-day option to purchase an additional 1,406,250 shares. Jefferies acted as the sole book-running manager with Needham & Company and Wedbush PacGrow as co-managers. The securities will not be offered where prohibited by state laws.
Positive
- Total gross proceeds of $75 million from the offering.
- Underwriters have a 30-day option to purchase additional shares.
Negative
- Potential dilution of existing shareholder equity due to the new share offering.
Details
News Market Reaction – LQDA
The recorded move for LQDA in the trading session of this news was +1.16%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
RESEARCH TRIANGLE PARK, N.C., July 02, 2020 (GLOBE NEWSWIRE) -- Liquidia Technologies, Inc. (NASDAQ: LQDA), a late-stage clinical biopharmaceutical company focused on the development and commercialization of novel products using its proprietary PRINT® technology, announced the closing of its previously announced underwritten public offering of 9,375,000 shares of its common stock at a public offering price of
Jefferies acted as the sole book-running manager for the offering. Needham & Company and Wedbush PacGrow acted as co-managers.
The shares of common stock described above were offered by Liquidia pursuant to its shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Liquidia with the Securities and Exchange Commission (the “SEC”) on August 23, 2019 and declared effective by the SEC on September 10, 2019. The proposed offering was made only by means of a written prospectus and prospectus supplement that form part of the registration statement. A preliminary prospectus supplement and accompanying prospectus and a final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering were filed with the SEC and are available at the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Contact Information
Media:
Michael Parks
Corporate Communications
484.356.7105
michael.parks@liquidia.com
Investors:
Jason Adair
Vice President, Corporate Development and Strategy
919.328.4400
jason.adair@liquidia.com
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