Micromet to raise $70 million
This article was originally published in Scrip
Micromet, a US-based biopharmaceutical company, has priced 14 million shares of its common stock at an offering price of $5 per share, in an attempt to raise around $70 million.
The firm, which is developing novel antibodies for the treatment of cancer, inflammation and autoimmune diseases, expects the offering to close on August 4th. The underwriters of the offering have a 30-day option to purchase an additional 2.1 million shares of common stock to cover any over-allotments.
Piper Jaffray is the sole book running manager, while RBC Capital Markets and Merriman Curhan are acting as co-managers in the offering.