NEWTOWN, Pa.--(BUSINESS WIRE)--CollaGenex Pharmaceuticals, Inc. (NASDAQ:CGPI) today announced that it has entered into definitive agreements with institutional and other investors to sell 3.5 million shares of common stock for an aggregate purchase price of $45.5 million. The sale price of $13.00 per share represents a 2% discount to yesterday’s closing price of $13.31. The transaction is expected to close on November 21, 2006. The shares are being sold under a previously filed shelf registration statement, which the Securities and Exchange Commission has declared effective.
