Celldex Therapeutics Prices 7M Share Offering at $24.50/Share

Celldex Therapeutics CLDX today announced the pricing of an underwritten public offering of 7,000,000 shares of its common stock, offered at a price to the public of $24.50 per share for an aggregate offering of $171,500,000 of common stock. The net proceeds to Celldex from this offering are expected to be approximately $162,725,000, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Celldex. The underwriters have been granted a 30-day option to purchase up to an aggregate of 1,050,000 additional shares of common stock. The offering is expected to close on or about December 10, 2013, subject to customary closing conditions. Jefferies LLC and Leerink Swann LLC are acting as joint book-running managers of the offering. Guggenheim Securities, Oppenheimer & Co. Inc., Wedbush PacGrow Life Sciences, Brean Capital, LLC, Cantor Fitzgerald & Co. and Roth Capital Partners are acting as co-managers of the offering. Celldex anticipates using the net proceeds from the offering to fund Celldex's clinical trials of its product candidates and for working capital and other general corporate purposes. A shelf registration statement relating to the shares was filed with the SEC and is effective and a See full press release