Cel Communications, Inc. (CELC) Prices 2.4M Share Upsized IPO at $9.50/Sh
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Celcuity Inc. (NASDAQ: CELC) announced today the pricing of its upsized initial public offering of 2,400,000 shares of its common stock at a public offering price of $9.50 per share, before the underwriting discount. All of the shares are being offered by Celcuity. In addition, Celcuity has offered the underwriter a 30-day option to purchase from Celcuity up to an additional 360,000 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any. The shares of common stock are expected to begin trading September 20, 2017 on the NASDAQ Capital Market under the symbol “CELC,” and the offering is expected to close on September 22, 2017.
Celcuity expects to use the net proceeds from the offering to support research and development activities, clinical trials, development of operational processes and capital expenditures, and for working capital and other general corporate purposes.
Craig-Hallum Capital Group LLC is acting as the sole managing underwriter for the initial public offering.
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