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Discovery Laboratories Inc Prices $50 Million Public Offering of Common Stock


Thursday, 31 Oct 2013 08:30am EDT 

Discovery Laboratories Inc announced that it has priced an underwritten public offering of 25 million shares of its common stock, at a price to the public of $2.00 per share for gross proceeds of $50 million. Net proceeds, after underwriting discount and other estimated fees and expenses payable by the Company, are expected to be approximately $47 million. The offering is expected to close on or about November 5, 2013, subject to satisfaction of customary closing conditions. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3.75 million shares of common stock to cover over-allotments, if any. Stifel and Piper Jaffray & Co. are acting as joint bookrunning managers for the offering, Lazard Capital Markets LLC is acting as co-lead manager and Roth Capital Partners, LLC is acting as co-manager. 

Company Quote

1.61
0.02 +1.26%
4:00pm EDT