Medgenics raises 29.4m dollars through public offering

Medgenics, the AIM-listed biopharmaceutical company developing treatments for chronic diseases, has closed an underwritten public offering of 5.6m shares of common stock and Series 2013-A warrants to purchase up to an aggregate of 2.8m shares of common stock.

By MoneyWeek

published 14 February 2013

in Features

The shares and the warrants were sold together as a fixed combination, each consisting of one share of common stock and a warrant to purchase one-half of a share of common stock, at a price to the public of $5.25 per fixed combination.

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In addition, Medgenics granted the underwriters a 45-day option to purchase up to an aggregate of 840,000 additional shares of common stock and additional warrants to purchase up to an aggregate of 420,000 shares of common stock.

Medgenics' share price was down 2.90% to 335p at 0800 on Thursday.

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