Lipocine (LPCN) Prices $25 Million Underwritten Public Offering Of Common Stock
- World stocks steady, Bitcoin slides on U.S. tax hike prospect
- Intel (INTC) Tops Q1 EPS by 24c, Offers Guidance
- Bitcoin sinks below $50,000 as cryptos stumble over Biden tax plans
- Snap (SNAP) Tops Q1 EPS by 5c, DAUs were 280 million, Offers Guidance
- Euro regains poise as data points to stronger recovery
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Lipocine Inc. (NASDAQ: LPCN), a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, today announced the pricing of an underwritten public offering of 14,285,714 shares of its common stock, offered at a price of $1.75 to the public. Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 2,142,857 shares of common stock. All of the shares in the offering are being offered by the Company. The offering is expected to close on or about January 28, 2021, subject to customary closing conditions. The gross proceeds to the Company from this offering are expected to be approximately $25.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. This amount assumes no exercise of the underwriters' option.
The Company intends to use the net proceeds from this offering for general corporate purposes. General corporate purposes may include additions to working capital and capital expenditures. The Company has not yet determined the amount of net proceeds to be used specifically for any particular purpose or the timing of these expenditures.
Raymond James & Associates, Inc. is acting as sole book-running manager and Ladenburg Thalmann & Co. Inc. is acting as co-manager for the public offering.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Agiliti Inc. (AGTI) Prices 26.32M Share IPO at $14/Sh
- Evolus (EOLS) Announces Proposed Public Offering of Common Stock
- Anaptysbio (ANAB) Announces FDA Approves JEMPERLI for dMMR Endometrial Cancer