MannKind Biopharmaceuticals Announces Completion of Common Stock Offering
Published: Aug 10, 2009
VALENCIA, Calif.--(BUSINESS WIRE)--MannKind Corporation (Nasdaq: MNKD) today announced the completion of a public offering of 8,360,000 shares of its common stock, including 960,000 shares sold pursuant to the full exercise of an over-allotment option previously granted to the underwriters. MannKind’s chairman, chief executive officer and principal stockholder, Alfred E. Mann, purchased 1,000,000 of these shares from the underwriters. All of the shares were offered by MannKind. The net proceeds to MannKind from the sale of shares in this offering, after deducting underwriting discounts and commissions and other estimated offering expenses, were approximately $59.7 million.