NEW YORK (Thomson Financial) - Discovery Laboratories Inc. Friday said it
plans to raise $25 million in a direct offering.
Under the agreement, Discovery Labs will sell 10 million shares of its
common stock to a group of institutional investors at $2.50 a share.
The transaction is expected to close on Dec. 12.
All shares are being offered by Discovery Labs, and Jefferies & Co. acted as
placement agent for the transaction.
Shares of the Warrington, Pa.-based developer of surfactant technology for
respiratory disorders closed Thursday at $3.04.
Melinda Peer
mp/pc
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