By Sheri Kasprzak
New York, Dec. 13 - GTx, Inc. plans to settle a direct placement for $60,793,600.
Institutional investors agreed to buy 3,799,600 shares at $16.00 each, a 4.7% discount to the company's $16.79 closing stock price on Tuesday.
The shares will be sold under the company's shelf registration.
Lazard Capital Markets LLC was the bookrunner with Cowen and Co., LLC as co-agent.
Proceeds will be used for clinical development, for research and development and for working capital.
Based in Memphis, GTx is a biopharmaceutical company focused on treatments for cancer and men's health problems.
| Issuer: | GTx, Inc.
|
| Issue: | Stock
|
| Amount: | $60,793,600
|
| Shares: | 3,799,600
|
| Price: | $16.00
|
| Warrants: | No
|
| Placement agents: | Lazard Capital Markets LLC (lead), Cowen and Co., LLC
|
| Announcement date: | Dec. 13
|
| Stock symbol: | Nasdaq: GTXI
|
| Stock price: | $16.66 at close Dec. 13
|
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