Seattle Genetics (SGEN) Message Board

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Biotech / Medical : Seattle Genetics (SGEN)

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To: Steve Lokness who wrote (125)	2/5/2009 3:02:21 PM
From: Steve Lokness	Read Replies (1) of 161

SGEN in this market did a secondary! Not only did they manage to pull this off, but the stock immediately bounced back and is now trading above the secondary offering. Hmmmmm? Seattle Genetics to sell $55.8 million in stock Seattle Genetics will sell 5.74M shares at $55.8 million to gain research and corporate funds Wednesday January 28, 2009, 10:02 am EST Yahoo! Buzz Print Related:Seattle Genetics Inc. BOTHELL, Wash. (AP) -- Biotechnology company Seattle Genetics Inc. said Wednesday it priced an offer of about 5.7 million new shares of stock at $55.8 million. Related Quotes Symbol Price Change SGEN 10.59 +0.33 ... said it will offer 5.74 million shares, which implies a price of about $9.72 per share. Seattle Genetics stock closed at $10.46 on Tuesday. Seattle Genetics plans to use the funds from the sale to conduct research on its drug candidates, and for general corporate purposes. The stock offer is being managed by UBS Investment Bank. The company had 79.8 million shares outstanding as of Nov. 6, 2008.

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