Vanda Pharmaceuticals proposes public offering of common stock
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29 Oct 2014
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Vanda Pharmaceuticals today said that it intends to offer and sell shares of its common stock in an underwritten public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering, reported media. Vanda also expects to grant the underwriters a 30-day option to purchase up to an additional 15 per cent of the shares of common stock offered in the public offering, as per the media reports. All of the shares in the offering are to be sold by Vanda, with net proceeds to be used for sales and marketing expenditures in connection with the commercialization of HETLIOZ® in the U.S. for the treatment of Non-24-Hour Sleep-Wake Disorder, research and development activities and other general corporate purposes. Jefferies LLC and Piper Jaffray & Co. are acting as the joint book-running managers for the offering. |
| Source: Dion Global Type: IPO Related |
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