Columbia Laboratories (CBRX) Prices 1.3M at $3.50 for Proceeds of $4.1M
Columbia Laboratories, Inc. (Nasdaq: CBRX) today announced that it has priced a transaction to raise up to approximately $4.7 million through the sale of up to approximately 1.3 million shares of its common stock at a price of $3.50 per share in a registered direct offering. Net proceeds are expected to be up to approximately $4.1 million after offering-related fees and expenses.
Columbia intends to use the net proceeds from the offering for general corporate purposes, including funding its clinical development and other research and development activities, internal and/or collaborative sales, marketing and distribution expenditures, capital expenditures and working capital needs.
The transaction is expected to close on or about August 26, 2008, subject to satisfaction of customary closing conditions. The Benchmark Company, LLC served as placement agent for the transaction.
Columbia Laboratories, Inc. engages in the research, development, manufacture, and commercialization of women's healthcare and endocrinology products.
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