Salix Pharma (SLXP) Prices 5.5M Share Offering
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Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) today announced the pricing of a public offering of 5,500,000 shares of its common stock. The offering is expected to close on or about November 23, 2009, subject to customary closing conditions. In addition, Salix has granted the underwriter a 30-day option to purchase up to an additional 825,000 shares to cover over-allotments, if any.
Salix intends to use the net proceeds from the offering for business development activities and other general corporate purposes.
Jefferies & Company, Inc. is acting as sole book-running manager in this offering.
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