Protalix BioTherapeutics Announces the Pricing of Public Offering of Common Stock
BioTherapeutics, Inc. (NYSE: PLX), announced today the pricing of its previously announced underwritten public offering of 4.5 million shares of its common stock at a price to the public of $5.25 per share. The Company has granted the underwriters a 30-day option to purchase up to an aggregate of 675,000 additional shares of common stock to cover over-allotments, if any. The offering is expected to settle and close on February 22, 2012, subject to customary closing conditions. Jefferies & Company, Inc. is acting as the sole book-running manager and each of Canaccord Genuity Inc. and Oppenheimer & Co. Inc. are acting as co-managers for the offering. The Company expects to use the net proceeds from the sale of the shares primarily to fund clinical trials for the Company's product candidates, to fund the Company's research and development activities, to enhance the Company's manufacturing capacity, for working capital and general corporate purposes.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.