logo
Share SHARE
FONT-SIZE Plus   Neg

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

PROLOR Biotech, Inc. (PBTH: Quote) 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

Editors Pick
American Airlines Group said pilots at its subsidiaries American Airlines and US Airways, represented by Allied Pilots Association, have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook.
comments powered by Disqus
Follow RTT