FONT-SIZE Plus   Neg

PROLOR Biotech Prices Public Offering Of 6.5 Mln Shares At $5 A Piece

PROLOR Biotech, Inc. (PBTH) said Friday that it has priced its underwritten public offering of 6.5 million shares of its common stock at a price to the public of $5.00 per share.

The gross proceeds to PROLOR from the offering are expected to be $32.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by PROLOR.

PROLOR has granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 shares of common stock to cover over-allotments, if any.
The offering is expected to close on May 16.

PROLOR plans to use the net proceeds from this offering for general corporate purposes, which may include research and development expenses, including expenses related to clinical trials, capital expenditures, working capital, and general and administrative expenses.

The company may also use a portion of the net proceeds to acquire or invest in complementary businesses, products and technologies.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Starbucks is rolling out its delivery service - good news for any caffeine addicts who can't make it out to the coffee chain. Unfortunately, there's still a wait in store for most people: the new service only covers Manhattan's most recognizable skyscraper. According to multiple media reports, Starbucks' pilot program is launching at the Empire State Building in New York City. Tech giant Apple Inc. Tuesday said the 21.5 inch iMac all-in-one desktop computers will be available with new Retina 4K display, while every 27 inch iMac will have Retina 5k display for true to life pictures and videos. The new iMacs will be supported by processors and graphics, two Thunderbolt 2 ports and new storage options. Popular sports news websites Deadspin and SBNation had their Twitter feeds suspended on Monday for alleged copyright violations. According to various media reports, Twitter halted @Deadspin and @SBNationGIF after the social media giant received complaints from various sources, including the NFL, the UFC and a couple of college football conferences.
comments powered by Disqus
Follow RTT