Cerecor’s $36.4M Rights Offering

Wilmer Cutler Pickering Hale and Dorr LLP advised the underwriters on the deal.

Cerecor Inc. (NASDAQ: CERC) announced that it has entered into an underwriting agreement with Jefferies LLC under which the underwriters agreed to purchase, on a firm commitment basis, 12,323,077 shares of common stock of the Company, at a public offering price of $2.60 per share (the “Public Offering Price”). In addition, and in lieu of common stock, the Company is offering to a certain existing investor pre-funded warrants to purchase up to an aggregate of 1,676,923 shares of common stock at a purchase price of $2.599 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each pre-funded warrant. The offering priced on January 7, 2021 and closed on January 12, 2021.

Jefferies is acting as the sole book-running manager for the offering and Oppenheimer & Co. is acting as lead manager for the offering.

The WilmerHale team advising the underwriters consisted of Lisa Firenze (Picture), Bruce Manheim, Colleen Superko, Chip McCorkle and Gerard Fischetti.

Involved fees earner: Lisa Firenze – WilmerHale; Gerard Fischetti – WilmerHale; Bruce Manheim Jr – WilmerHale; Chip McCorkle – WilmerHale; Colleen Superko – WilmerHale;

Law Firms: WilmerHale;

Clients: Jefferies; Oppenheimer & Co;


Author: Ambrogio Visconti