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Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report

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Lpath Inc Announces Pricing of Public Offering of Common Stock

Friday, 14 Dec 2012 09:10am EST 

Lpath Inc announced that it is selling 2,366,000 shares of its common stock at a price to the public of $5.00 per share. The gross proceeds from the sale of the shares, before deducting the underwriting discount and estimated offering expenses payable by it, are expected to be approximately $11.8 million. Lpath intends to use the net proceeds from this offering for research and development activities, operating costs, capital expenditures and for general corporate purposes, including working capital. Lpath may also use a portion of the net proceeds to invest in or acquire businesses or technologies that it believes are complementary to its own, although Lpath has no current plans, commitments or agreements with respect to any acquisitions as of the date of this press release. Pending these uses, Lpath intends to invest the net proceeds in investment grade, interest-bearing securities. Summer Street Research Partners is acting as the sole book-running manager for this offering. Lpath has granted the underwriter a 45-day option to purchase up to an aggregate of 354,900 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on or about December 19, 2012, subject to the satisfaction of customary closing conditions. 

Company Quote

21 Nov 2014