Progenics (PGNX) Prices 8.5M Common Stock Offering

June 20, 2013 9:16 AM EDT
Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) announced today the pricing of an underwritten public offering of 8,500,000 primary shares of its common stock at a public offering price of $4.40 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $37,400,000. The offering is expected to close on or about June 25, 2013, subject to customary closing conditions. Progenics also granted the underwriters a 30-day option to purchase 1,275,000 additional shares of common stock. All of the shares sold in the offering are being sold by Progenics, with the proceeds to be used for research and development and general corporate purposes.

Jefferies LLC is acting as sole book-running manager for the offering. Needham & Company, LLC, Stifel and Brean Capital, LLC are acting as co-managers for the offering.

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