DOW JONES NEWSWIRES
Shares of Antares Pharma Inc. (AIS) slid in after-hours trading
Thursday after the biotechnology company said it would offer common
stock to raise proceeds for development of the company's
proprietary treatment of rheumatoid arthritis.
A trio of companies--El Paso Pipeline Partners LP (EPB),
Lexington Realty Trust (LXP) and Scorpio Tankers Inc. (STNG)--each
announced separate plans to launch stock or unit offerings of their
own, and their shares fell after hours.
Antares' shares fell 6.1% to $1.69 in after-hours trading.
Scorpio Tankers' stock dropped 6.7% to $10.50, while El Paso's was
off 3.6% to $34.40. Lexington Realty's slid 2.9% to $9.36.
El Paso Pipeline Partners, a limited partnership formed by El
Paso Corp. (EP) to own and operate natural gas transportation
pipelines and storage assets, said it would offer 14 million common
units. The company, which has about 180 million units outstanding,
said it plans to use proceeds for general partner capital
contributions and for possible acquisitions and capital
expenditures.
Shipping company Scorpio Tankers plans to sell 5.5 million
shares, with proceeds to be used to purchase vessels and for
possible working capital and general corporate expenses. The
company has about 24.1 million shares outstanding.
Lexington Realty, a real-estate investment trust that manages
single-tenant office, industrial and retail properties, plans to
offer 8 million shares to repay outstanding borrowing under its
secured credit facility and for general corporate purposes. The
REIT has about 142.6 million shares outstanding.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com