
UPDATE: InVivo Therapeutics prices public offering at $7.50 per share to raise $28 million
pharmafile | March 15, 2016 | News story | Business Services, Manufacturing and Production, Sales and Marketing |Â Â InVivo, Share price, Stake saleÂ
InVivo Therapeutics (Nasdaq: NVIV) on Tuesday said it plans to raise about $28 million via a public offering of over 3.7 million company shares at $7.50.
The company said the warrants are immediately exercisable and expire on the fifth anniversary of the date of issuance. The shares and warrants are immediately separable and will be issued separately.
The offering is expected to close on March 18, 2016, the company said in a statement. Gross proceeds of the offering are expected to be about $32.2 million. InVivo intends to use the proceeds from this offering to fund ongoing clinical trials and for general corporate purposes.
Anjali Shukla
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