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Endocyte, Inc. (ECYT) Prices Public Offering Of Common Stock


3/28/2014 8:13:54 AM

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WEST LAFAYETTE, Ind., March 27, 2014 (GLOBE NEWSWIRE) -- Endocyte, Inc. (Nasdaq:ECYT) announced the pricing of an underwritten public offering of 4,500,000 shares of its common stock at a price to the public of $21.00 per share. The gross proceeds to Endocyte from this offering, before deducting underwriting discounts and commissions and other offering expenses payable by Endocyte, will be approximately $94.5 million. Endocyte has also granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock. The offering is expected to close on or about April 2, 2014, subject to customary closing conditions. Endocyte anticipates using the net proceeds from the offering for working capital and general corporate purposes, including without limitation research and development expenses, including clinical trial costs, capital expenditures and general and administrative expenses.

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