By Sheri Kasprzak
Atlanta, Jan. 7 - Depomed Inc. will raise $22,662,000 in a direct placement, according to a source familiar with the deal.
The offering is comprised of 5,036,000 shares at $4.50 each.
The shares associated with the private placement are being sold under the company's shelf registration.
Thomas Weisel Partners LLC is the placement agent in the deal.
Based in Menlo Park, Calif., Depomed is a pharmaceutical company focused on oral drug delivery technologies.
| Issuer: | Depomed Inc.
|
| Issue: | Stock
|
| Amount: | $22,662,000
|
| Shares: | 5,036,000
|
| Price: | $4.50
|
| Warrants: | No
|
| Placement agent: | Thomas Weisel Partners LLC
|
| Announcement date: | Jan. 7
|
| Pricing date: | Jan. 6
|
| Stock price: | $5.33 at close Jan. 6
|
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