Mar 26 2010
Dyax Corp. (NASDAQ: DYAX) today announced the pricing of an underwritten
public offering of 17,000,000 shares of its common stock at a price to
the public of $3.25 per share. The gross proceeds from the sale of
shares, after underwriting discounts and commissions and estimated
offering expenses, are expected to be approximately $51.8 million. The
offering is expected to close on or about March 30, 2010, subject to
customary closing conditions.
Jefferies & Company, Inc. is acting as the sole book-running manager of
the offering with Needham & Company, LLC acting as the co-lead manager.
Dyax has granted the underwriters a 30-day option to purchase up to
2,550,000 additional shares of common stock at the public offering price
to cover over-allotments, if any.
Dyax intends to use the net proceeds from this offering to fund
commercialization and distribution activities for KALBITOR®
(ecallantide), our lead product for the treatment of acute attacks for
hereditary angioedema, to fund other research and preclinical
development activities, and for general corporate purposes.
Source Dyax Corp.