Tercica greenshoe exercised, raising deal to $36.8 million

By Angela McDaniels

Seattle, Jan. 26 - Tercica Inc. said the underwriter of its follow-on offering of common stock has exercised its 750,000 share over-allotment option in full, raising the size of the deal to 5,750,000 shares or $36.8 million.

Tercica priced the follow-on offering of 5 million shares of common stock at $6.40 per share via bookrunner Lehman Brothers Inc. on Wednesday.

Pricing was discounted from a $6.96 close on Monday and $6.51 on Tuesday.

The company said proceeds will be used for the development, production, sales and marketing of growth factor deficiency drug Increlex and for general corporate purposes, including the possible licensing, acquisition and development of new products or product candidates.

Tercica is a biopharmaceutical company based in Brisbane, Calif., that develops and commercializes products to improve endocrine health.

© 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.