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Chelsea prices $35 million offering to fund droxidopa programme

This article was originally published in Scrip

Executive Summary

Chelsea Therapeutics is raising $35 million in a fully underwritten public offering of 8.75 million shares of its common stock. As announced on 18 February, the price to the public is $4 per share, and the underwriters, which include Deutsche Bank Securities, Ladenburg Thalmann and Wedbush PacGrow Life Sciences, have agreed to purchase the shares from Chelsea at a price of $3.764 per share. Chelsea expects the net proceeds from the sale to be about $32.8 million.

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