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By The Online Investor Staff, updated Wed., Apr. 25, 11:27 PM
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Secondary Stock Offerings| This Slide: #3 of 25 |
Slide #3. Valeritas Holdings, Inc. — Secondary Offering
Company:
Valeritas Holdings, Inc. (NASDAQ:VLRX)
Date announced:
4/24/2018
Shares Offered:
13,700,000
Date of Pricing:
4/24/2018
Price Per Share:
$1.75
Secondary Offering Details:
Valeritas Holdings, Inc. (NASDAQ:VLRX), a medical technology company which offers patients with type 2 diabetes V-Go Wearable Insulin Delivery device, a simple, affordable, all-in-one insulin delivery option that is worn like a patch and can eliminate the need for taking multiple daily shots, today announced the pricing of its underwritten public offering of 13,700,000 shares of its common stock at a public offering price of $1.75 per share. The gross proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Valeritas, are expected to be $24 million. In addition, Valeritas has granted the underwriters a 30-day option to purchase up to an additional 2,055,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on April 26, 2018, subject to customary closing conditions. Valeritas intends to use the net proceeds for working capital and other general corporate purposes.
Valeritas Holdings is a commercial-stage medical technology company. Co. designed its first commercialized product, the V-Go Wearable Insulin Delivery Device (V-Go) to help patients with Type 2 diabetes who require insulin to achieve and maintain their target blood glucose goals. V-Go is a disposable insulin delivery device that a patient adheres to his or her skin. Co. developed V-Go utilizing its technology, the h-Patch platform, as a patient-focused solution to address the challenges of insulin therapies. Co.'s h-Patch platform facilitates the subcutaneous delivery of injectable medicines to patients across a range of therapeutic areas.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 34th percentile
(ranked lower than approx. 66% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
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