BOSTON (Thomson Financial) - Targacept Inc. Thursday priced its underwritten
public offering of 3.8 million shares at $7.07 each, which was the closing bid
price of the company's shares on Jan. 16.
The Winston-Salem, N.C.-based biopharmaceutical company has granted the
underwriters an option to purchase an additional 570,000 shares to cover any
over-allotments.
Targacept has named Deutsche Bank Securities as the sole book-runner of the
$26.9 million offering. Lazard Capital Markets LLC, Oppenheimer & Co. Inc. and
Pacific Growth Equities, LLC are co-managers for the offering.
The offering is expected to close on Wednesday, Jan. 23.
Shares of Targacept closed at $7.10 on Wednesday.
Greg Saulnier
gs/vj
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