Vitae Pharmaceuticals plans to price $40 million public sale of stock

Offering conducted by bookrunning managers Piper Jaffray, BMO Capital

By Devika Patel

Knoxville, Tenn., March 23 – Vitae Pharmaceuticals, Inc. said it will conduct a $40 million public offering of stock with a 30-day, $6 million greenshoe.

Piper Jaffray & Co. and BMO Capital Markets Corp. are the bookrunners.

Proceeds will be used for clinical development, clinical trials, working capital and other general corporate purposes.

The clinical-stage biotechnology company is based in Fort Washington, Pa.

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