This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sunesis Announces Pricing Of A $43.0 Million Public Offering Of Common Stock And Warrants

Stocks in this article: SNSS

SOUTH SAN FRANCISCO, Calif., Feb. 27, 2014 (GLOBE NEWSWIRE) -- Sunesis Pharmaceuticals, Inc. (Nasdaq:SNSS) today announced the pricing of an underwritten public offering of 4,650,000 shares of common stock together with two warrants to purchase one share of the company's common stock. The public offering price of each share of common stock and two accompanying warrants was $9.25, resulting in gross proceeds to the company of $43.0 million. Net proceeds are expected to be approximately $40.0 million, after deducting the underwriting discount and estimated offering expenses payable by Sunesis. If exercised in full, the warrants could result in additional net financing proceeds to Sunesis of $95.3 million. The offering is expected to close on or about March 4, 2014, subject to customary closing conditions.

The per share exercise price of the first warrants (Series A warrants) is $8.50 and the per share exercise price of the second warrants (Series B warrants) is $12.00. The Series A and Series B warrants may be exercised at any time on or after the unblinding date, which is the date on which data from Sunesis' VALOR trial, a Phase 3 pivotal clinical trial of vosaroxin in combination with cytarabine in patients with relapsed or refractory acute myeloid leukemia, is first publicly announced by the company. The Series A warrants are exercisable until the later of (a) 30 days after the unblinding date (but in no event later than March 4, 2016), or (b) December 4, 2014. The Series B warrants are exercisable until the later of (a) 30 days following the PDUFA date, which is the final date assigned by the FDA as the Prescription Drug User Fee Act action date for vosaroxin (but in no event later than March 4, 2016), or (b) September 4, 2015.

Cowen and Company, LLC and Cantor Fitzgerald & Co. are acting as Joint Book-Running Managers in this offering.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,544.55 +144.88 0.88%
S&P 500 1,931.08 +27.07 1.42%
NASDAQ 4,389.22 +73.1460 1.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs