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Stemline Therapeutics (STML) priced an 8.88 M share offering at $9.00 per share

January 16, 2019 3:44am

STML closed up at $0.86 (+9.47%) to $9.94

Expected gross proceeds to Stemline are $80 million.

Due to demand, this offering was upsized from the previously announced 6,600,000 shares.

STML has also granted the underwriters a 30-day option to purchase up to 1,333,333 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

BUY

The offering is expected to close on January 18, 2019, subject to customary closing conditions.

Stats:

Shares outstanding: 29.04 M

Float: 22.72 M

Shares short (12/30/18): 5.75%

Current cash position: $70.6 M

Debt: $30 M

Revenue: $500 K

Revenue per share: $0.02

%0 day moving average: 10.10

200 day moving average: 14.19

% held by insiders: 12.97%

% held by institutions: 64.53%

J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co., Ladenburg Thalmann & Co. Inc. and H.C. Wainwright & Co., LLC are acting as co-lead managers and Roth Capital Partners, LLC, ThinkEquity, a division of Fordham Financial Management, Inc., A.G.P./Alliance Global Partners, National Securities Corporation, and Aegis Capital Corp. are acting as co-managers for the offering.

35 companies, 1 interpreter!

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