money!!There is money out there for biotech's!!investors expected too much today from the AGM!!Its just an AGM woopie!!The big news is still out there and MPH is right on track!!
The following is a demonstration of money in the bio field!!(ANP)
Angiotech raises $251-million (U.S.) with overallotment
2003-10-07 09:41 ET - News Release
Mr. Ian Harper reports
ANGIOTECH COMPLETES US$250 MILLION PUBLIC OFFERING
Angiotech Pharmaceuticals has successfully closed its previously announced overallotment exercise of 750,000 common shares of Angiotech at a price of $43.75 (U.S.) per common share ($59.01 (Canadian) per share). The overallotment option was granted to the underwriters by Angiotech pursuant to its recent public offering of five million common shares. The completion of the offering, including exercise of the overallotment option, has resulted in the total sale of 5.75 million common shares with gross proceeds to Angiotech of $251,562,500 (U.S.) ($339,307,500 (Canadian)).
The underwriting syndicate for the offering was co-ordinated globally by Merrill Lynch & Co. Lehman Brothers and Merrill Lynch & Co. served as joint United States and international bookrunners, and BMO Nesbitt Burns Inc. and Credit Suisse First Boston Canada Inc. served as joint Canadian bookrunners for the offering.
The proceeds from the offering and the overallotment option are expected to be used to finance Angiotech's clinical studies, research and product development, working capital, and general corporate purposes, including acquisitions.
WARNING: The company relies upon litigation protection for "forward-looking" statements.