By Devika Patel
Knoxville, Tenn., July 23 - Chelsea Therapeutics International, Ltd. will conduct a $13.31 million registered direct offering of stock, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will sell 3,327,090 common shares at $4.00 per share.
Wedbush PacGrow Life Sciences is the lead placement agent, and Ladenburg Thalmann & Co. Inc. is the co-placement agent. Settlement is expected Tuesday.
Proceeds will be used to accelerate the commercialization and marketing of droxidopa, to fund the development of other product candidates and for general corporate purposes.
Charlotte, N.C.-based Chelsea Therapeutics is a biopharmaceutical development company.
| Issuer: | Chelsea Therapeutics International, Ltd.
|
| Issue: | Common stock
|
| Amount: | $13,308,360
|
| Shares: | 3,327,090
|
| Price: | $4.00
|
| Warrants: | No
|
| Agents: | Wedbush PacGrow Life Sciences (lead), Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Stock symbol: | Nasdaq: CHTP
|
| Stock price: | $4.92 at close July 22
|
| Market capitalization: | $151 million
|
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