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Coronado Biosciences Prices Public Offering Of 5 Mln Shares At $5.00/shr

Coronado Biosciences Inc. (CNDO) announced the pricing of its underwritten public offering of 5 million shares of its common stock at a price to the public of $5.00 per share for gross proceeds to Coronado of $25.0 million.

Coronado said it expects to receive approximately $23.0 million in net proceeds from the offering, after deducting underwriting discount and estimated offering expenses.

The company also has granted the underwriters a 30-day option to purchase up to an aggregate of 750,000 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on June 27, 2012, subject to customary closing conditions.

by RTTNews Staff Writer

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