Published on March 18, 2010 at 1:44 AM
Micromet, Inc. (Nasdaq: MITI) announced today the closing of its previously announced underwritten public offering. Prior to closing, the underwriters exercised in full their option to purchase an additional 1.5 million shares of common stock. As a result, Micromet sold a total of 11.5 million shares of its common stock at a public offering price of $7.00 per share.
The Company received net proceeds from the offering of approximately $75.3 million, after deducting the underwriting discount and estimated offering expenses. The Company plans to use the net proceeds from the financing primarily for general corporate purposes, which may include research and development, capital expenditures, working capital and general and administrative expenses.
SOURCE Micromet, Inc.