Medgenics raises $29.4m in Wall Street, London offering
The company is developing a novel platform technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue.
The biotech company priced an underwritten public offering of 5,600,000 shares of common stock and Series 2013-A warrants to purchase up to an aggregate of 2,800,000 shares of common stock at an initial exercise price of $6.78. The shares and the warrants were sold together as a fixed combination, each consisting of one share of common stock and a warrant to purchase one-half of a share of common stock, at a price to the public of $5.25 per fixed combination.
Maxim Group LLC acted as sole book-running manager for the offering and National Securities Corporation and MLV & Co. acted as co-managers for the offering. Nomura Code Securities Ltd. and SVS Securities plc acted as sub-agents to the offering in Europe. Medgenics granted the underwriters a 45-day option to purchase up to an aggregate of 840,000 additional shares of common stock and/or additional warrants to purchase up to an aggregate of 420,000 shares of common stock.
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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