Published on October 27, 2009 at 6:41 AM
Delcath Systems, Inc. (Nasdaq: DCTH) announced today that it intends, subject to market and other conditions, to offer up to 8.5 million shares of its common stock in a registered public offering pursuant to its existing shelf registration statement under the Securities Act of 1933. Delcath also intends to grant the underwriters of the offering an option to purchase up to 15% of additional shares of primary stock to cover over-allotments.
Delcath plans to use the proceeds from the offering for general corporate purposes including regulatory approval, commercialization, clinical trials, capital expenditures and working capital.
Cowen and Company, LLC is acting as the sole book-running manager on the offering. Canaccord Adams, Wedbush PacGrow Life Sciences and Craig-Hallum Capital Group are acting as co-managers.
SOURCE Delcath Systems, Inc.
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