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
Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) reported that its net profit for the first-quarter of 2017 rose 46% to 7.68 trillion South Korean won or $6.8 billion from 5.25 trillion won for the same period a year earlier. The company said that it would not adopt a holding company structure. Casino operator Las Vegas Sands Corp. (LVS), Wednesday reported an increase in profit for the first quarter, gambling business in Macao, China, the world's biggest gambling market, revives. Earnings for the quarter trumped Wall Street expectations, as did revenues. First-quarter profit rose to $480... Photo and video sharing app Instagram has touched a new milestone with an impressive 700 million users.
comments powered by Disqus
Follow RTT