March 20, 2001--Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN - news) announced that its public offering of 7,000,000 shares of the Company's common stock was priced at $25.00 per share.
The Company is selling 6,500,000 shares and a shareholder is selling 500,000 shares. Gross proceeds to Regeneron will be $162,500,000. The Company will not receive any of the proceeds from shares sold by the selling shareholder. The offering is expected to close on March 23, 2001.
The net proceeds of the offering received by Regeneron, totaling approximately $153,625,000 after underwriting discounts and estimated expenses, will be used for preclinical and clinical development, research, working capital, and general corporate purposes.
The offering is being underwritten by Merrill Lynch & Co., JPMorgan, and Robertson Stephens. |
