By Ronda Fears
Nashville, Dec. 7 - Dendreon Corp. priced a follow-on offering of 10 million shares of common stock off the shelf at $4.50 per share, discounted from Tuesday's closing level of $5.38, via bookrunner Banc of America.
An over-allotment option of 1.5 million shares is available.
Seattle-based Dendreon plans to use proceeds to finance clinical trials for and the potential commercialization of Provenge, an immunotherapy that targets the prostate cancer antigen, prostatic acid phosphatase.
| Issuer: | Dendreon Corp.
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| Issue: | Follow-on stock offering
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| Proceeds: | $45 million
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| Shares: | 10 million shares
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| Greenshoe: | 1.5 million shares
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| Price: | $4.50 per share
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| Bookrunner: | Banc of America
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| Co-managers: | JMP Securities and Lazard Capital Markets
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 12
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| Ticker: | DNDN
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| Stock price: | $5.38 at close Dec. 6
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