By Sheri Kasprzak
New York, May 4 - Spectrum Pharmaceuticals, Inc. negotiated the terms of a $32,088,125 direct placement.
The offering includes up to 5,134,100 shares at $6.25 each.
The shares are being offered under the company's shelf registration.
Oppenheimer & Co. is the bookrunner, and Lazard Capital Markets LLC; Rodman & Renshaw, LLC; and ThinkEquity Partners, LLC are the co-agents.
The deal is expected to wrap up on May 9.
The proceeds will be used for clinical trials of the company's lead product candidates, for clinical and preclinical studies of its other product candidates, for potential licenses and acquisitions, and for working capital.
Based in Irvine, Calif., Spectrum develops cancer drugs.
| Issuer: | Spectrum Pharmaceuticals, Inc.
|
| Issue: | Stock
|
| Amount: | $32,088,125
|
| Shares: | 5,134,100
|
| Price: | $6.25
|
| Warrants: | No
|
| Placement agents: | Oppenheimer & Co. (lead); Lazard Capital Markets LLC; Rodman & Renshaw, LLC; ThinkEquity Partners, LLC
|
| Announcement date: | May 4
|
| Settlement date: | May 9
|
| Stock symbol: | Nasdaq: SPPI
|
| Stock price: | $6.55 at close May 4
|
© 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.
