By Sheri Kasprzak
New York, Nov. 3 - Celgene Corp. priced its previously announced public sale of stock for $1.032 billion.
The offering includes 20 million shares at $51.60 each. The price per share is a slight discount to the company's $51.65 closing stock price Friday.
The shares are being offered under its shelf registration.
J.P. Morgan Securities Inc. and Merrill Lynch & Co. are the lead managers for the deal.
The offering is being conducted as part of Celgene's inclusion in the Standard & Poor's 500 index.
The deal is being completed to partially meet the expected demand of index funds to purchase Celgene stock. The stock was added to the S&P Friday.
Proceeds will be used for working capital, general corporate purposes, future acquisitions and strategic investments.
Celgene, based in Summit, N.J., develops treatments for cancer and inflammatory diseases.
| Issuer: | Celgene Corp.
|
| Issue: | Stock
|
| Amount: | $1.032 billion
|
| Shares: | 20 million
|
| Price: | $51.60
|
| Warrants: | No
|
| Lead managers: | J.P. Morgan Securities Inc. and Merrill Lynch & Co.
|
| Pricing date: | Nov. 3
|
| Stock symbol: | Nasdaq: CELG
|
| Stock price: | $51.65 at close Nov. 3
|
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