SALT LAKE CITY, Nov. 27, 2013 (GLOBE NEWSWIRE) -- Lipocine Inc. (OTCQB:LPCN) (OTCBB:LPCN), a specialty pharmaceutical company, today announced the pricing of an underwritten public offering of 1,492,000 shares of its common stock at a price to the public of $8.25 per share. The gross proceeds from this offering to Lipocine are expected to be approximately $12.3 million, before deducting underwriting discounts and commissions and other offering expenses payable by Lipocine. Lipocine has granted the underwriters a 30-day option to purchase up to an aggregate of 223,800 additional shares of common stock. The offering is expected to close on or about November 29, 2013, subject to customary closing conditions. Lipocine expects to use the net proceeds of this offering to conduct clinical trials for its lead product candidate LPCN 1021 and other product candidates and the balance for working capital and general corporate purposes.
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