PROLOR Biotech (PBTH) Prices 6.5M Offering at $5/Share
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PROLOR Biotech, Inc. (AMEX: PBTH) has priced its previously announced underwritten public offering of 6.5 million shares of its common stock at a price to the public of $5.00 per share.
The gross proceeds to PROLOR from this offering are expected to be $32.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by PROLOR. PROLOR has granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on May 16, 2012, subject to customary closing conditions. Jefferies & Company, Inc. is acting as the sole book-running manager and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE AMEX: LTS), and Oppenheimer & Co. Inc. are acting as co-managers for the offering.
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The gross proceeds to PROLOR from this offering are expected to be $32.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by PROLOR. PROLOR has granted the underwriters a 30-day option to purchase up to an aggregate of 975,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on May 16, 2012, subject to customary closing conditions. Jefferies & Company, Inc. is acting as the sole book-running manager and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE AMEX: LTS), and Oppenheimer & Co. Inc. are acting as co-managers for the offering.
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