Amarin Corp plc (AMRN) Prices 21.1M Offering at $2.85/ADS
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Amarin Corporation plc (NASDAQ: AMRN) today announced the pricing of an underwritten public offering of 21,100,000 American Depositary Shares ("ADSs") at a price to the public of $2.85 per ADS. The net proceeds to the company from this offering are expected to be approximately $56.1 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about August 16, 2016, subject to customary closing conditions.
Jefferies LLC and Citigroup Global Markets Inc. are acting as joint book-running managers in the offering. Cantor Fitzgerald & Co. is acting as lead manager and H.C. Wainwright & Co. and SunTrust Robinson Humphrey are acting as co-managers in this offering. Amarin has granted the underwriters a 30-day option to purchase up to an aggregate of 3,165,000 additional ADSs. Amarin anticipates using the net proceeds from the offering to advance its REDUCE-IT cardiovascular outcomes trial and for general corporate and working capital purposes.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Unilife Corp. (UNIS) Issues Accelerated Convertible Note to Amgen
- Forterra (FRTA) IPO Opens Down 8%
- Immune Design (IMDZ): TheraVectys Settlement Removes A Small Overhang - Jefferies
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesCantor Fitzgerald, Citi, Jefferies & Co, SunTrust Robinson Humphrey, S3, H.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!