logo
Share SHARE
FONT-SIZE Plus   Neg

Neptune Prices Fresh Offering Of Common Stock At $4.10/Share

Neptune Technologies & Bioressources Inc. (NEPT), a Canada-based biotechnology company, on Tuesday priced an underwritten public offering of 7.33 million newly issued common shares at $4.10 per share. Neptune expects to realize nearly $30 million through the offering, which will be closed on October 2, 2012.

In addition, the company shall grant underwriters an additional 1.09 million shares at the offering price for the period ending 30 days from the closing of the offering.

Neptune intends to use funds from the offering for sales, marketing and krill inventory purchases, to support its subsidiaries, fund the expansion of its Sherbrooke plant and also fund product development, clinical trials and regulatory affairs of the company among others.

For the offering, RBC Capital Markets and JMP Securities LLC are acting as Joint Book-Running Managers, while Byron Capital Markets and John Thomas Financial are acting as Co-Managers.

The stock is currently trading at $4.23, down $0.24 or 5.37 percent on the Nasdaq.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A group of consumers in New York and California have filed a lawsuit against Quaker Oats' owner PepsiCo Inc. alleging that the company has falsely advertised the oatmeal brand as "100 percent natural" despite having traces of glyphosate found in it. Lawsuit claims that glyphosate, a herbicide declared... Wal-Mart Stores Inc. (WMT) is bringing back its door-greeter program by mid-summer and station staffs at store entrances and exits as the retail giant looks to curb shoplifting. Previously, the retailer had reassigned employees serving as greeters to guide customers to checkouts and help them find... KFC has brought its "Finger Lickin' Good" tag line to life by creating KFC-flavored nail polishes. KFC Hong Kong has partnered with advertising agency Ogilvy & Mather to make "Original" and "Hot & Spicy" edible nail polishes. The flavors contain natural ingredients and are based on KFC's two popular...
comments powered by Disqus
Follow RTT