By Ronda Fears
Nashville, July 15 - Rigel Pharmaceuticals Inc. raised $75.7 million in gross proceeds with a follow-on offering of an upsized 3.65 million shares of common stock priced at $20.75 per share.
The pricing level was discounted from Thursday's close of $21.56.
The offering was boosted from 3 million shares.
Credit Suisse First Boston and Lehman Brothers Inc. were joint bookrunners for the off-the-shelf transaction.
San Francisco-based Rigel, which develops treatments for rheumatoid arthritis, allergies and other conditions, plans to use proceeds to fund research and for other general corporate purposes.
| Issuer: | Rigel Pharmaceuticals Inc.
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| Issue: | 3.65 million shares, up from 3 million
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| Greenshoe: | 547,500 shares, up from 450,000
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| Gross proceeds: | $75.7 million
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| Price: | $21.56 per share
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| Bookrunners: | Credit Suisse First Boston and Lehman Brothers Inc. (joint)
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| Pricing date: | July 14
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| Closing date: | July 20
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| Symbol: | RIGL
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