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Navidea Biopharmaceuticals (NAVB) Announces Underwritten Sale of Common Stock


4/24/2013 11:32:42 AM

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DUBLIN, Ohio--(BUSINESS WIRE)--Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB), a biopharmaceutical company focused on precision diagnostic radiopharmaceuticals, announced today that it has priced an underwritten sale of common stock in a transaction involving J.P. Morgan Asset Management and one other institutional investor. Both of these investors also participated in a similar transaction in early February. In the offering, 2,100,000 shares were sold in an at-market transaction for a price of $2.43 per share for gross proceeds of approximately $5.1 million. The net proceeds of the financing will be used to fund Navidea’s ongoing operations. The sale is expected to close on or about April 29, 2013, subject to the satisfaction of customary closing conditions.

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