Boston, MA 02\/28\/2014 (wallstreetpr) – Inovio Pharmaceuticals Inc (NYSEMKT:INO)<\/b>, a well-known manufacturer of synthetic vaccines needs money to run its various projects and it has announced a way to attain that objective. The biotech company has agreed to dilute its shares with secondary underwritten public offering of a few million common stock shares, rather than go for debts.<\/p>\n
The company initially filed a self-registration statement with the U.S. Securities Exchange Commission in relation to the planned public offering of common stock shares. The same filing was declared effective on February 13, thus paving the way of the sale and purchase of the common stock shares of the company.<\/p>\n
The offering price<\/b><\/p>\n
Inovio Pharmaceuticals Inc (NYSEMKT:INO) is offering more than 18.9 million common stock shares in the latest secondary offering. The offering has been priced at $2.90 per share, meaning that approximately $55 million could be raised in gross proceeds. The company has allowed the underwriters a 20-day option to acquire additional shares up to 2.8 million. This offering is expected to come to conclude on March 4. However, its closing is also subject to the customary conditions.<\/p>\n
Underwriters<\/b><\/p>\n
Inovio Pharmaceuticals Inc (NYSEMKT:INO) has tapped Stifel, Piper Jaffray & Co. and Nicolaus & Company as joint book-running managers in the latest secondary offering of common stock shares. The co-managers of the offering are Maxim Group LLC and Brean Capital LLC.<\/p>\n
Offering proceeds<\/b><\/p>\n
Inovio Pharmaceuticals Inc (NYSEMKT:INO) hopes to raise $55 million in gross proceeds. From that amount various deductions such as underwriting commissions and discounts, offering expenses and other amounts payable by the company in relation to the offering will be made.<\/p>\n
After the deductions, Inovio Pharmaceuticals Inc (NYSEMKT:INO) plans to use the resulting net proceeds for general corporate purposes, acquisition of potential technologies and promising companies. Also, the same would go into a number of expenses to help the company attain its business goals. These expenses include but are not limited to research and development, clinical trial, manufacturing, general and administrative spending.<\/p>\n
The stock of Inovio Pharmaceuticals Inc (NYSEMKT:INO) was last seen trading at $3.42 per share, having lost more than 8.3 percent of its value.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 02\/28\/2014 (wallstreetpr) – Inovio Pharmaceuticals Inc (NYSEMKT:INO), a well-known manufacturer of synthetic vaccines needs money to run its various projects and it has […]<\/p>\n","protected":false},"author":32,"featured_media":16238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[2981,2982],"stock_ticker":[],"class_list":["post-16232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-inovio-pharmaceuticals-inc-nysemktino","tag-nysemktino","entry"],"acf":[],"yoast_head":"\n