Highly successful SPO today (price up by 17% from the announcement). Hopefully company is out of the woods financially.
Press Release Source: Emisphere Technologies, Inc.
Emisphere Technologies Announces Pricing of Common Stock Offering
Wednesday May 10, 9:41 am ET
TARRYTOWN, N.Y., May 10 /PRNewswire-FirstCall/ -- Emisphere Technologies, Inc. (Nasdaq: EMIS - News) announced today that it has entered into agreements to sell 4 million shares of common stock at $8.26 per share, the closing bid price on May 9, 2006, pursuant to Emisphere's previously filed shelf registration statement, which was declared effective by the Securities and Exchange Commission on May 2, 2006.
ThinkEquity Partners, LLC acted as lead placement agent, with WR Hambrecht + Co, and WBB Securities, LLC, acting as co-placement agents. Proceeds from the offering will be used by Emisphere for general corporate purposes, including further development of its lead clinical programs. The transaction is expected to close on May 15, 2006, subject to the satisfaction of customary closing conditions.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The offer is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. When available, a final prospectus can be obtained from ThinkEquity Partners, LLC, 31 West 52 Street, 17th floor, New York, NY 10019; telephone, 212-468-7000.
About Emisphere Technologies, Inc. <snip> |
