Rigel greenshoe fully exercised in closing of $81.9 million stock offering

By Jennifer Chiou

New York, July 21 - Rigel Pharmaceuticals, Inc. said its 547,500-share greenshoe was exercised in full and it raised $81.9 million in net proceeds from its public offering of 4,197,500 total shares.

The over-allotments were sold at $20.75 per share.

The company originally offered an upsized $75.7 million offering of 3.65 million shares, raised from 3 million, at $20.75 per share - a discount from July 14's close of $21.56.

At pricing, Rigel also augmented its greenshoe to 547,500 shares from 450,000 shares.

Credit Suisse First Boston (212 325-2580) and Lehman Brothers Inc. were joint bookrunners.

Based in San Francisco, Rigel develops small-molecule drugs for asthma/allergy, rheumatoid arthritis and cancer.

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