Deal will fund launch of pipeline opportunities, corporate purposes
By Devika Patel
Knoxville, Tenn., April 24 - Navidea Biopharmaceuticals, Inc. priced a $5.1 million public sale of stock in a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 2.1 million common shares at $2.43 apiece. The price per share is identical to the April 23 closing share price.
Ladenburg Thalmann & Co. Inc. is the bookrunning manager.
Settlement is expected April 29.
Proceeds will be used to develop and launch Lymphoseek, NAV4694, NAV5001, RIGScan and other potential pipeline opportunities and for general corporate purposes.
Navidea is a Dublin, Ohio-based biomedical company focused on precision diagnostic radiopharmaceuticals to help identify sites and pathways of undetected disease.
| Issuer: | Navidea Biopharmaceuticals, Inc.
|
| Issue: | Common shares
|
| Amount: | $5,103,000
|
| Shares: | 2.1 million
|
| Price: | $2.43
|
| Warrants: | No
|
| Bookrunner: | Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Stock symbol: | NYSE: NAVB
|
| Stock price: | $2.43 at close April 23
|
| Market capitalization: | $273.61 million
|
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