GTX Corp Announces Pricing of Public Offering of Common Stock
MEMPHIS, Tenn.--(BUSINESS WIRE)--GTx, Inc. (Nasdaq: GTXI) today announced the pricing of its previously announced underwritten public offering of 10,000,000 shares of its common stock, offered at a price of $4.75 per share to the public. The gross proceeds to GTx from this offering are expected to be approximately $47.5 million, before deducting the underwriting discount and other estimated offering expenses payable by GTx. GTx has granted the underwriters a 30-day option to purchase up to an aggregate of 1,500,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by GTx. The offering is expected to close on or about June 28, 2011, subject to customary closing conditions.