WARRINGTON, Pa., Feb. 23, 2010 (GLOBE NEWSWIRE) -- Discovery Laboratories, Inc. (Nasdaq:DSCO) today announced that it has completed its previously announced public offering to sell an aggregate of 27,500,000 shares of its common stock and warrants to purchase 13,750,000 shares of its common stock under the Company's previously filed registration statement that was declared effective by the Securities and Exchange Commission on June 18, 2008. Each share was issued and sold as a unit, together with a related warrant to purchase one half of a share of common stock, at a public offering price of $0.60 per share. The warrants are exercisable for a period of five years at an exercise price of $0.85 per share of common stock. As a result of the offering, Discovery Labs has received net proceeds of approximately $15.1 million, after deducting underwriting discounts and commissions and other fees and expenses related to the offering. Lazard Capital Markets LLC ("Lazard") acted as the sole underwriter of the offering.
