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
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT