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Tercica, Inc. (TRCA) Announces $30 Million Financing



1/24/2006 10:29:52 AM

BRISBANE, Calif.--(BUSINESS WIRE)--Jan. 24, 2006--Tercica, Inc. (NASDAQ:TRCA) announced today that it is selling 5,000,000 shares of its common stock pursuant to an effective shelf registration statement. Tercica expects the net proceeds from the sale of the shares to be approximately $30 million, after deducting underwriting discounts and commissions, but before the expenses of the offering. Tercica also granted to the underwriter a 30-day option to purchase up to an additional 750,000 shares of common stock. All of the shares in the offering are being sold by Tercica. Lehman Brothers Inc. is acting as sole underwriter for the offering. Tercica expects the closing of the offering to occur on or about January 27, 2006.

Read at BioSpace.com


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