By Devika Patel
Knoxville, Tenn., July 1 - Spectrum Pharmaceuticals, Inc. said it plans a $21 million registered direct offering of units.
The company will sell 2,936,037 common shares, with warrants for 1,468,020 additional shares, at $7.1525 per unit of one common share and about a half-share warrant. The warrants are each exercisable at $7.10 for 90 days.
Settlement is expected on July 6.
Rodman & Renshaw, LLC is the agent.
Proceeds will be used for general corporate purposes.
Based in Irvine, Calif., Spectrum develops cancer drugs.
| Issuer: | Spectrum Pharmaceuticals, Inc.
|
| Issue: | Units of one common share and about a half-share warrant
|
| Amount: | $21 million
|
| Units: | 2,936,037
|
| Price: | $7.1525
|
| Warrants: | 1,468,020 warrants
|
| Warrant expiration: | 90 days
|
| Warrant strike price: | $7.10
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | July 1
|
| Settlement date: | July 6
|
| Stock symbol: | Nasdaq: SPPI
|
| Stock price: | $7.65 at close June 30
|
| Market capitalization: | $229 million
|
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