UNION CITY, Calif.--(BUSINESS WIRE)--Questcor Pharmaceuticals, Inc. (AMEX:QSC) today announced that it has received definitive commitments from unaffiliated institutional investors to purchase 10,510,000 shares of its common stock at a purchase price of $1.20 per share. Questcor has also received definitive commitments from certain insiders of the Company to purchase 890,000 shares of its common stock at a purchase price of $1.45 per share as part of the offering, based on the average closing price of the common stock for the five trading days preceding the pricing of the offering. The net offering proceeds to Questcor are expected to be approximately $13 million after deducting placement agency fees and estimated offering expenses. BMO Capital Markets acted as sole placement agent for the offering.
