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Egalet Announces Proposed Public Offering of Common Stock | ||
By: PR Newswire Association LLC. - 27 Jul 2015 | Back to overview list |
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WAYNE, Pa., July 27, 2015 /PRNewswire/ -- Egalet Corporation (Nasdaq: EGLT) ("Egalet"), a fully integrated specialty pharmaceutical company focused on developing, manufacturing and marketing innovative pain treatments, announced today that it intends to offer and sell shares of its common stock in an underwritten public offering. Stifel and Guggenheim Securities are acting as joint bookrunning managers for the offering. In connection with this offering, Egalet expects to grant the underwriters a 30-day option to purchase additional shares of common stock, equal to up to 15% of the number of shares of common stock sold in the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares in the offering are to be sold by Egalet. Egalet anticipates using the net proceeds from the offering to fund research and development, including life cycle management for SPRIX® (ketorolac tromethamine) Nasal Spray and OXAYDO™ (oxycodone HCI, USP), to expand commercial sales and marketing efforts, and for general corporate purposes, including potential business development opportunities. The securities described above are being offered by Egalet pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on May 6, 2015. A preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. The offering will be made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104 or via telephone at (415) 364-2720 or via email at syndprospectus@stifel.com and Guggenheim Securities, LLC at 330 Madison Avenue, New York, NY 10017 or at (212) 518-9658. This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale is unlawful. About Egalet Safe Harbor Investor and Media Contact: Logo - http://photos.prnewswire.com/prnh/20140219/NY67493LOGO SOURCE Egalet Corporation |
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