Idera Pharmaceuticals, Inc. (IDRA) Announces Closing Of Public Offering Of Common Stock And Pre-Funded Warrants
2/11/2014 8:45:57 AM
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) (“Idera” or the “Company”) today announced the closing of its previously announced underwritten public offering of 7,867,438 shares of common stock at an offering price of $4.00 per share, and pre-funded warrants to purchase up to an aggregate of 2,158,750 shares of common stock at an offering price of $3.99 per pre-funded warrant, which is the per share public offering price for the common stock less the $0.01 per share exercise price. The shares of common stock in the offering include 1,026,188 shares issued upon the exercise in full by the underwriters of their over-allotment option at the offering price. The gross proceeds to Idera from this offering are expected to be approximately $40.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Idera and excluding the proceeds, if any, from the exercise of the pre-funded warrants.
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