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Discovery Laboratories Inc Announces Completion of $50 Million Public Offering


Tuesday, 5 Nov 2013 04:05pm EST 

Discovery Laboratories Inc announced that it has completed its previously announced public offering to sell an aggregate of 25 million shares of its common stock under Discovery Labs' previously filed registration statement declared effective by the Securities and Exchange Commission on June 21, 2011. Each share was issued and sold at a public offering price of $2.00 per share. Discovery Labs has received net proceeds of approximately $47 million, after deducting underwriting discount and other estimated fees and expenses related to the offering. The net proceeds will be used primarily to support the commercial introduction of SURFAXIN drug product, to advance the AEROSURF development program, including a planned phase 2 clinical program and for general corporate purposes. Stifel and Piper Jaffray & Co. acted as joint bookrunning managers for the offering, Lazard Capital Markets LLC acted as co-lead manager and Roth Capital Partners, LLC acted as co-manager. 

Company Quote

1.52
-0.01 -0.65%
21 Nov 2014