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Synta Pharmaceuticals Corp Announces $60 Million Registered Direct Common Stock Offering

Thursday, 13 Dec 2012 07:30am EST 

Synta Pharmaceuticals Corp announced that it has entered into common stock purchase agreements with members of Board of Directors and various institutional investors for the sale of 7,000,000 shares of common stock in an issuer directed, registered direct offering. Shares were priced at $8.60, the consolidated closing bid price as of December 12, 2012, for gross proceeds of approximately $60 million. No underwriter or placement agent was used in this transaction. The offering is expected to close on or about December 18, 2012, subject to satisfaction of customary closing conditions. Net proceeds from the offering will be used to fund Synta's operations, including, research and development, clinical trials, manufacturing, intellectual property protection and enforcement, and working capital, and for other general corporate purposes. 

Company Quote

0.03 +0.97%
26 Nov 2014