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
Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts. Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share.
comments powered by Disqus
Follow RTT