ArQule, Inc. (ARQL: Quote) announced its intention to offer, subject to market and other conditions, 6 million shares of its common stock in an underwritten public offering.
In addition, the company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, ArQule noted.
by RTT Staff Writer
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