March 12, 2020 / 10:10 AM / a month ago

Israel's Compugen prices $75 million public offering

TEL AVIV, March 12 (Reuters) - Israel’s Compugen , a clinical-stage cancer immunotherapy company, priced on Thursday an underwritten public offering of 8.3 million shares at $9.00 per share.

The gross proceeds to Compugen from the offering are expected to be around $75 million, before deducting underwriting discounts and commissions.

Compugen’s shares closed at $11.83 on Nasdaq on Wednesday after hitting a year-high of $12.80 on Tuesday when it reported data from a clinical trial in patients with advanced solid tumours.

Compugen granted the underwriters a 30-day option to purchase up to an additional 1.25 million shares at the public offering price less underwriting discounts and commissions.

The offering is expected to close on or about March 16.

SVB Leerink and Stifel are acting as joint bookrunning managers for the offering. SunTrust Robinson Humphrey is acting as lead manager for the offering and Oppenheimer & Co is acting as co-manager for the offering. (Reporting by Tova Cohen Editing by Steven Scheer)

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