By a News Reporter-Staff News Editor at Investment Weekly News -- Egalet Corporation (Nasdaq: EGLT) ("Egalet") announced the closing of its initial public offering of 4,200,000 shares of its common stock at an initial public offering price of $12.00 per share. All of the shares of common stock were offered by Egalet. In addition, Egalet granted the underwriters an option until March 7, 2014 to purchase up to an additional 630,000 shares of common stock at the public offering price to cover any over-allotments. Separately, in a concurrent, side-by-side private placement, Egalet's collaborator Shionogi Limited purchased 1,250,000 shares of common stock at the initial public offering price. Egalet estimates net proceeds from the offering and the private placement to be approximately $58.4 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Stifel and JMP Securities are acting as joint book-running managers for the offering. Canaccord Genuity and Janney Montgomery Scott are acting as co-managers. A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission on February 5, 2014. Copies of the final prospectus related to this offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by calling (415) 364-2720 or by emailing SyndicateOps@stifel.com, or JMP Securities LLC, 600 Montgomery Street, 10(th) Floor, San Francisco, California 94111, Attention: Prospectus Department, (415) 835-8985.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.
Keywords for this news article include: Egalet Corporation, Banking and Finance.
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