Biodel (BIOD) Closes 37.5M Common Stock Offering

April 20, 2015 10:05 AM EDT
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Price: $0.65 --0%

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On April 20, 2015, Biodel (Nasdaq: BIOD) closed its previously-announced underwritten public offering of 37,500,000 shares of common stock, par value $0.01 per share (which amount includes the full exercise of the underwriter’s option to purchase 4,891,304 shares to cover overallotments), at a price to the public of $.92 per share, resulting in net proceeds of approximately $32,068,750, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the proceeds from the offering for operating costs, capital expenditures and for general corporate purposes, including working capital. William Blair & Company, L.L.C. and Ladenburg Thalmann & Co. Inc. acted as the joint book-running managers for the offering. Roth Capital Partners, LLC acted as co-manager.

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