Published on 5/24/2006 in the Prospect News Biotech Daily.
New Issue: Minrad raises $32.5 million in follow-on of 10 million shares at $3.25 each, versus $3.75 close
By Ronda Fears
Memphis, May 24 - Minrad International, Inc. raised $32.5 million from a follow-on offering of 10 million shares priced at $3.25 each, discounted from Tuesday's close of $3.75, via bookrunner Oppenheimer & Co.
Buffalo, N.Y.-based Minrad, which focuses on pain management products, plans to use proceeds to expand its Bethlehem facility and for capital investment in a new Orchard Park, N.Y., headquarters.
| Issuer: | Minrad International, Inc.
|
| Issue: | Follow-on stock offering
|
| Gross proceeds: | $32.5 million
|
| Net proceeds: | $30.4 million
|
| Shares: | 10 million
|
| Greenshoe: | 1.5 million shares
|
| Price: | $3.25 per share
|
| Bookrunner: | Oppenheimer & Co.
|
| Co-managers: | KeyBanc Capital Markets and Maxim Group LLC
|
| Pricing date: | May 23
|
| Settlement date: | May 30
|
| Stock symbol: | Amex: BUF
|
| Stock price: | $3.75 on May 23
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
