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Spectrum nets $19mm through private placement
01 Jun 2009
Executive Summary
Spectrum Pharmaceuticals (primarily oncology therapeutics) netted $19mm by selling 3.9mm common shares at $5.11 each (a 13% premium) to three institutional investors led by Federated Kaufmann Fund. Buyers also received 90-day warrants to purchase 1.96mm shares at $5.11 apiece beginning six months after the close of the transaction. Rodman & Renshaw was the placement agent.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Private Investment in Public Equity
- Private Placement
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Spectrum nets $19mm through private placement
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