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By The Online Investor Staff, updated Wed., Dec. 11, 7:28 AM
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Secondary Stock Offerings| This Slide: #22 of 25 |
Slide #22. Fortress Biotech, Inc. — Secondary Offering
Company:
Fortress Biotech, Inc. (NASDAQ:FBIO)
Date announced:
11/25/2019
Shares Offered:
262,500
Date of Pricing:
11/25/2019
Price Per Share:
$20.00
Secondary Offering Details:
Fortress Biotech, Inc. (Common Stock: Nasdaq: FBIO) (Preferred Stock: Nasdaq: FBIOP) ("Fortress"), an innovative biopharmaceutical company focused on identifying, in-licensing and developing high-potential marketed and development-stage drugs and drug candidates, today announced that it has priced an underwritten public offering of 262,500 shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock at a price of $20 per share, with expected gross proceeds to Fortress of approximately $5.3 million. In addition, Fortress has granted the underwriters a 45-day option to purchase up to 39,375 additional shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about November 29, 2019, subject to customary closing conditions.
Fortress Biotech is a biopharmaceutical company focused on acquiring, developing and commercializing pharmaceutical and biotechnology products. Co.'s product candidates include: MB-107 (XSCID), an ex vivo lentiviral gene therapy for the treatment of X-linked severe combined immunodeficiency; Intravenous Tramadol, for the treatment of moderate to moderately severe post-operative pain; and CUTX-101, a copper histidinate injection for the treatment of Menkes disease. Co.'s other product candidates include: ConVax, CEVA-101, CEVA-D and CEVA-102, TAMID-001, AVTS-001, CNDO-109 and Methazalomide.
Preferred: FBIOP
Open the FBIO Page at The Online Investor »
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 93rd percentile
(ranked higher than approx. 93% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
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