News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

CytRx Corporation (CYTR) Announces Exercise of Underwriters' Over-Allotment Option


10/14/2013 9:26:27 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

LOS ANGELES--(BUSINESS WIRE)--CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced the sale of an additional 1.5 million shares of common stock pursuant to the exercise in full by the underwriters of the over-allotment option granted to the underwriters in connection with CytRx's recently announced public offering of 10.0 million shares of common stock at a price to the public of $2.25 per share. The gross proceeds to CytRx from the offering, including the exercise of the over-allotment option, will be approximately $25.9 million, before deducting underwriting discounts and commissions and other offering expenses payable by CytRx. The offering is expected to close on October 15, 2013, subject to satisfaction of customary closing conditions.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES