Chelsea Therapeutics (CHTP) Plans to Offer $20 Million in Common Stock

Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) announced today its intention to offer, subject to market and other conditions, $20.0 million of its common stock in an underwritten public offering pursuant to its existing shelf registration statement. The company also intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the public offering to cover over-allotments, if any.

Leerink Swann LLC is acting as the sole book-running manager for the offering. Needham & Company, LLC and Roth Capital Partners, LLC are acting as the co-managers of the offering.

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