By Sheri Kasprzak
New York, Jan. 25 - NitroMed, Inc. said it has secured agreements from institutional investors for a $62,525,000 direct placement.
The company will issue 6.1 million shares at $10.25 each.
The shares will be sold under NitroMed's shelf registration.
J.P. Morgan Securities Inc. and Thomas Weisel Partners LLC were the placement agents.
Proceeds will be used for the commercial launch of the company's first marketed product, BiDil. The rest will be used for working capital.
Based in Lexington, Mass., NitroMed develops orally administered treatments for heart failure.
| Issuer: | NitroMed, Inc.
|
| Issue: | Stock
|
| Amount: | $62,525,000
|
| Shares: | 6.1 million
|
| Price: | $10.25
|
| Warrants: | No
|
| Placement agents: | J.P. Morgan Securities Inc. and Thomas Weisel Partners LLC
|
| Announcement date: | Jan. 25
|
| Stock symbol: | Nasdaq: NTMD
|
| Stock price: | $11.52 at close Jan. 24
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
