Android app on Google Play

Ventrus Bio (VTUS) Announces Common, Preferred Offering

January 29, 2013 4:21 PM EST Send to a Friend
Get Alerts VTUS Hot Sheet
Trade VTUS Now!
Join SI Premium – FREE
Ventrus Biosciences, Inc. (Nasdaq: VTUS) announced today that it is concurrently offering to sell, subject to market and other conditions, (i) shares of its common stock in an underwritten public offering, and (ii) shares of its Series A Convertible Preferred Stock ("Series A") in a separate underwritten public offering. The Series A is non-voting and each share of Series A is convertible into 10 shares of Ventrus common stock, provided that conversion will be prohibited if, as a result, the holder and its affiliates would own more than 9.98% of the total number of Ventrus shares of common stock then outstanding. All of the shares in these offerings are to be sold by Ventrus. Ventrus also intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the common stock public offering to cover over-allotments, if any.

William Blair & Company, L.L.C. is acting as the sole underwriter of these offerings.




You May Also Be Interested In


Related Categories

Corporate News, Equity Offerings

Related Entities

William Blair

Add Your Comment