Unilife (UNIS) Prices 8.25 Million Share Public Offering at $4.35/Share
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Unilife Corporation (NASDAQ: UNIS) today announced the pricing of its underwritten registered public offering of 8,250,000 shares of common stock at a public offering price of $4.35 per share.
All of the shares in the offering are to be sold by Unilife. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,237,500 shares of common stock to cover over-allotments, if any.
The net proceeds of the offering to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $33,808,125, exclusive of any proceeds attributable to the underwriters' possible exercise of their over-allotment option. Unilife expects to use the net proceeds from this offering to fund the continued development and commercial supply of its diversified portfolio of advanced drug delivery systems, the expansion of its workforce to support anticipated customer demands, and for working capital and other general corporate purposes. The offering is expected to close on November 21, 2011 and is subject to customary closing conditions.
All of the shares in the offering are to be sold by Unilife. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,237,500 shares of common stock to cover over-allotments, if any.
The net proceeds of the offering to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $33,808,125, exclusive of any proceeds attributable to the underwriters' possible exercise of their over-allotment option. Unilife expects to use the net proceeds from this offering to fund the continued development and commercial supply of its diversified portfolio of advanced drug delivery systems, the expansion of its workforce to support anticipated customer demands, and for working capital and other general corporate purposes. The offering is expected to close on November 21, 2011 and is subject to customary closing conditions.
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