NEW YORK, Aug. 07, 2018 (GLOBE NEWSWIRE) — Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) announced today the pricing of an underwritten public offering of 9,090,909 primary shares of its common stock at a public offering price of $8.25 per share. The gross proceeds from the sale of the primary shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $75 million.
The offering is expected to close on or about August 10, 2018, subject to customary closing conditions. Progenics also granted the underwriters a 30-day option to purchase 1,363,636 additional shares of common stock on the same terms and conditions as the shares offered in the public offering. All shares to be sold in the offering will be sold by Progenics. Progenics intends to use the net proceeds from the offering for research and development and general corporate purposes. Progenics may also use a portion of the net proceeds to acquire, license or invest in businesses, products, product candidates, technologies, intellectual property or other assets that are complementary to its own.
Jefferies and Credit Suisse are acting as joint book-running managers for the offering, Cantor Fitzgerald & Co. is acting as lead manager, and Needham & Company, BTIG and CIM Securities, LLC are acting as co-managers.
A shelf registration statement relating to the shares of common stock described above has been filed with and declared effective by the Securities and Exchange Commission (the “SEC”). Any offer, if at all, will be made only by means of a written prospectus and prospectus supplement forming a part of the effective shelf registration statement.
A preliminary prospectus supplement relating to the offering was filed with the SEC on August 7, 2018, and a final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or by contacting Jefferies LLC, Equity Syndicate Prospectus Department, at 520 Madison Avenue, New York, New York, 10022, or by calling (877) 821-7388, or by emailing [email protected] or by contacting Credit Suisse Securities (USA) LLC, Credit Suisse Prospectus Department, at One Madison Avenue, New York, New York, 10010, or by calling (800) 221-1037, or by emailing [email protected]
