Business News • MarketWire • EnteroMedics Announces Pricing of $14.5 Million Public Offering of Common Stock and Warrants |
EnteroMedics Announces Pricing of $14.5 Million Public Offering of Common Stock and Warrants |
|
|
EnteroMedics Announces Pricing of $14.5 Million Public Offering of Common Stock and Warrants
ST. PAUL, MN--(Marketwire - Sep 23, 2011) - EnteroMedics Inc., (NASDAQ: ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced that it has priced an underwritten public offering of 8,800,000 shares of its common stock and warrants to purchase 1,760,000 shares of its common stock. Each share of common stock sold in this offering will be sold with a warrant to purchase 0.20 of a share of common stock. Each share and corresponding warrant will be sold at an aggregate price to the public of $1.65, for gross proceeds of $14,520,000. The net proceeds from the sale of the shares and corresponding warrants, after deducting the underwriters' discounts and other estimated offering expenses payable by the Company, will be approximately $13.3 million. The warrants are exercisable for a period of five years beginning on the closing date of the offering at an exercise price of $1.90 per share (115% of the aggregate offering price for a share of common stock and corresponding warrant).
View More : http://www.marketwire.com/mw/release.do?id=1564721&sourceType=3
|
|
|