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CytRx Corporation (CYTR) Announces Closing Of Public Offering Of Common Stock, Including Full Exercise Of Underwriters' Option To Purchase Additional Shares


2/5/2014 10:09:11 AM

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LOS ANGELES--(BUSINESS WIRE)--CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced the closing of its previously announced underwritten public offering. The gross proceeds to CytRx from its sale of 13,225,000 shares of common stock at a price to the public of $6.50 per share, which include the proceeds from the exercise of the underwriters’ option to purchase an additional 1,725,000 shares, were approximately $86.0 million, prior to deducting underwriting discounts and commissions and other offering expenses payable by CytRx.

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