Genzyme Transgenics Announces Pricing of Public Offering of 3.5 Million Shares of Common Stock at $20 Per Share
Friday February 4, 9:56 am Eastern Time
Company Press Release
SOURCE: Genzyme Transgenics Corporation
FRAMINGHAM, Mass., Feb. 4 /PRNewswire/ -- Genzyme Transgenics Corporation (Nasdaq: GZTC - news) announced today that it has priced its public offering of 3.5 million shares of common stock at $20 per share. Genzyme Transgenics has granted the underwriters an option to purchase an additional 525,000 shares of its common stock to cover over-allotments, if any. The net proceeds to the Company are expected to be approximately $65.3 million. Following the offering, Genzyme Transgenics will have approximately 25.9 million shares outstanding. The managing underwriters for the offering are Warburg Dillon Read LLC and Chase H&Q.
A copy of the final prospectus related to the offering can be obtained from: Warburg Dillon Read, 299 Park Avenue, New York, NY 10171, 212-821-4000; or Chase H&Q at 230 Park Avenue, New York, NY 10169.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
Genzyme Transgenics Corporation is a leader in the application of transgenic technology to the development and production of monoclonal antibodies and other recombinant proteins for therapeutic and biomedical uses. To date, the Company has formed more than a dozen collaboration agreements which provide for transgenic production of targeted proteins. The Company's lead product, antithrombin III, is currently in Phase III clinical trials.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to, those discussed in Genzyme Transgenics Corporation's prospectuses and Forms 10-K, as filed with the Securities and Exchange Commission, including the uncertainties associated with product development, the risk that clinical trials will not commence when planned, and the risks and uncertainties associated with dependence upon the actions of government and regulatory agencies.
SOURCE: Genzyme Transgenics Corporation |
