Boston, MA 05/22/2013 (wallstreetpr) – The share prices of Rockwell Medical Inc. (NASDAQ:RMTI) surged by 9.94 percent to close at $3.87 per share for the trading day. The shares traded in the range of $3.57 to $3.91 per share during the day. The 52 week high price of the shares of Rockwell Medical Inc. (NASDAQ:RMTI) is at $10.70 per share.
Closure of Public Offer
Rockwell Medical Inc. (NASDAQ:RMTI) had closed the underwritten public offering issued by the company at $3.05 per share as common stock. The aggregate value of this public offering was $40.3 million and Rockwell Medical Inc. (NASDAQ:RMTI) received a net sum of $37.7 million after deducting the commission and other offering expenses. The pharmaceutical company plans to utilize the net proceeds from the public offering to finance its SFP clinical trials and for other general corporate purposes.
Rockwell Medical Inc. (NASDAQ:RMTI) is involved in the development and production of hemodialysis concentrate solutions and other dialysis kits. The company delivers the dialysis kits and other hemodialysis ancillary products primarily in United States and also in the international markets of Asia, Latin America and Europe. The dialysis solutions developed by Rockwell Medical Inc. (NASDAQ:RMTI) are used to maintain life by removing the toxic and replacing with nutrients in the dialysis patients’ bloodstream.
Rockwell Medical Inc. (NASDAQ:RMTI) has a market capitalization of $100.07 million and the average trading volume for the company is 545,175 shares per day. The company had floated 25.86 million shares to its equity holders and maintains an institutional ownership of 30 percent of the holdings.
