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Cytrx Corp announces closing of public offering of common stock, including full exercise of underwriters' option to purchase additional shares


Wednesday, 5 Feb 2014 12:01pm EST 

Cytrx Corp:Closes its previously announced underwritten public offering.Says the gross proceeds to CytRx from its sale of 13,225,000 shares of common stock at a price to the public of $6.50 per share were about $86.0 million, prior to deducting underwriting discounts and commissions and other offering expenses payable by CytRx.Says it intends to use the net proceeds of the offering to fund clinical trials of its drug candidate aldoxorubicin and for general corporate purposes.Says Jefferies LLC acted as the sole book-running manager for the offering.Says Oppenheimer & Co. Inc., Aegis Capital Corp. and H.C. Wainwright & Co., LLC acted as co-lead managers for the offering. 

Company Quote

3.66
-0.06 -1.61%
2 Jul 2015