Lannett Company, Inc. Prices Underwritten Public Offering of Common Stock

PHILADELPHIA--(BUSINESS WIRE)--Lannett Company, Inc. (NYSE MKT: LCI) today announced the pricing of an underwritten public offering of 5,869,566 shares of the Company’s common stock at a price of $18.00 per share. The offering includes 4,250,000 shares offered by the Company and 1,619,566 shares offered by certain selling stockholders of the Company. One selling stockholder has also granted to the underwriters a 30-day option to acquire an additional 880,434 shares to cover overallotments, if any, in connection with the offering. After the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $71.5 million. The Company will not receive any proceeds from the sale of shares by any selling stockholders. The offering is expected to close on October 9, 2013, subject to customary closing conditions.

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