By Sheri Kasprzak
New York, Dec. 15 - Enzo Biochem, Inc. received commitments for a $46,000,010 direct placement.
The company plans to sell 3,285,715 shares at $14.00 each to a group of institutional investors, an 8.5% discount to the company's $15.30 closing stock price on Thursday.
The shares will be sold under the company's shelf registration.
The deal is set to close Dec. 20.
Lazard Capital Markets LLC was the placement agent.
Proceeds will be used for future acquisitions, clinical development, capital expenditures and working capital.
New York-based Enzo develops labeling and detection products for gene sequencing and genetic analysis.
| Issuer: | Enzo Biochem, Inc.
|
| Issue: | Stock
|
| Amount: | $46,000,010
|
| Shares: | 3,285,715
|
| Price: | $14.00
|
| Warrants: | No
|
| Placement agent: | Lazard Capital Markets LLC
|
| Announcement date: | Dec. 15
|
| Settlement date: | Dec. 20
|
| Stock symbol: | NYSE: ENZ
|
| Stock price: | $15.30 at close Dec. 14
|
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