Published on October 28, 2009 at 10:23 AM
Clinical Data, Inc. (NASDAQ: CLDA) today announced that it has raised gross proceeds of approximately $47.4 million through the public offering of 2,750,000 newly issued shares of its common stock at a price of $17.25 per share. All of the shares are being offered by Clinical Data, Inc. The underwriters have an option to purchase up to an additional 412,500 shares to cover over-allotments, which, if purchased, would result in total gross proceeds to the Company of approximately $54.6 million. The offering is expected to close no later than November 2, 2009, subject to the satisfaction of customary closing conditions.
Piper Jaffray & Co. is acting as the sole book running manager, with Wedbush PacGrow Life Sciences, Roth Capital Partners, LLC and BMO Capital Markets Corp. as co-managers in the offering. The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from the Securities and Exchange Commission at http://www.sec.gov., or from Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402 or by calling (800) 747-3924.
Source: Clinical Data, Inc.