Deutsche Bank acted as the sole underwriter and has an overallotment option to purchase up to 1,279,166 shares of stock.
The good news is that capital will go directly into the company will go exactly for what shareholders would want to see it used for. The proceeds will be to develop manufacturing facilities, a distribution network, an information technology platform and other infrastructure, to hire sales and marketing, manufacturing, quality and other personnel in preparation for the licensure by the FDA and commercialization of PROVENGE, and for general corporate purposes, including working capital.
Dendreon traded north of $27.00 after the peak of the news. Shares closed down at $19.76 yesterday, and shares are trading at $19.25 right before the open.
Jon C. Ogg
May 8, 2009
Contact [email protected] for any questions or corrections.
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