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
Weinstein Co. said it has entered into a preliminary agreement for immediate capital infusion from Colony Capital, the global private equity arm of Colony NorthStar, Inc. In addition, Weinstein Co. has entered into a negotiating period with Colony Capital for a potential sale of all or a significant portion of its assets. Further details of the deal were not disclosed. In the first such incident in Canada, a commercial airplane was struck by a drone last week, the government said Sunday. However, the aircraft was able to land safely. A plane operated by charter airline Skyjet was struck on one of its wings by a drone when it was approaching Quebec City's Jean Lesage International Airport last Thursday. Ford Motor Co. said Friday that it will offer free repairs to North American owners of more than 1.4 million 2011-17 Explorer sports utility vehicles to reduce the potential for exhaust or carbon monoxide entering their vehicles. The recall involves about 1.3 million vehicles in the U.S., 84,000 in Canada and 24,000 in Mexico.
comments powered by Disqus
Follow RTT