S&P 500
7,614.00
-0.11%
Dow Jones
51,326.00
-0.09%
Nasdaq 100
30,630.60
-0.28%
Russell 2000
2,927.38
-0.19%
FTSE 100
10,382.60
-0.05%
Nikkei 225
68,184.20
+1.01%

Health and Healthcare

Discovery Labs Shareholders Get Smacked on Secondary Offering (DSCO)

Photo of Paul Ausick
By Paul Ausick Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Respiratory drug maker Discovery Laboratories Inc. (NASDAQ: DSCO) priced a secondary offering of slightly more than 16 million shares this morning, and the stock is getting pummeled as a result. Discovery priced the shares at $2.80, a discount of 20% to yesterday’s closing price of $3.50.

The company expects to realize net proceeds of $42.1 million from the share sale. The underwriters have a 30-day over-allotment option of about 2.41 million shares. Lazard Capital Markets LLC is the sole book-running manager for the offering, Stifel Nicolaus Weisel is co-lead manager, and ROTH Capital Partners, LLC is co-manager of the offering.

The shares are being offered from a shelf registration filed yesterday. The company did not indicate how the net proceeds would be used.

Shares of Discovery Labs are down -18% at $2.87 in a 52-week range of $1.44-$5.39.

Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Coal-Miner Peabody’s Secondary Offering Costs the Company $40 Million
Paul Ausick |

Coal-Miner Peabody’s Secondary Offering Costs the Company $40 Million

Peabody Energy priced an underwritten secondary stock offering on Thursday. None of the proceeds from the sale will benefit Peabody,…

Moderna Commits to $500 Million Capital Raise, With More Possible
Jon C. Ogg |

Moderna Commits to $500 Million Capital Raise, With More Possible

Moderna Inc. (NASDAQ: MRNA) had been the biggest biotech initial public offering ever. The company was quite unlucky in the…

Idera Pharmaceuticals Sinks on Secondary Offering
Chris Lange |

Idera Pharmaceuticals Sinks on Secondary Offering

Shares of Idera Pharmaceuticals sank on Thursday after the company announced that it intends to have a secondary offering.

Chris Lange |

La Jolla Gears Up for Secondary Offering

La Jolla Pharmaceuticals has announced the pricing of an underwritten offering of 2.55 million shares of its common stock.

Douglas A. McIntyre |

Companies Raising Additional Capital (CPST, DDSS, PUDA, SNMX, SSRI, YRCW)

We are still seeing many companies trying to capitalize off of raising capital or where holders are registering shares.  Companies…

Stealth Bio Gears Up for IPO
Chris Lange |

Stealth Bio Gears Up for IPO

Clinical-stage biotechnology company Stealth Biotherapeutics has filed with the SEC regarding its initial public offering.

3 New Biotech IPOs on Calendar for Next Week
Paul Ausick |

3 New Biotech IPOs on Calendar for Next Week

Blank-check company KLR Energy Acquisition Corp. (NASDAQ: KLREU) completed its initial public offering (IPO) last Friday, the first successful IPO…

IPO Calendar Lists 4 Biotechs for Coming Week
Paul Ausick |

IPO Calendar Lists 4 Biotechs for Coming Week

Three initial public offerings (IPOs) went off as scheduled last week and four are on the calendar for the coming…

Chris Lange |

Calithera Files for IPO to Fund Cancer Tumor Therapy Projects

Calithera Biosciences files with the U.S. Securities and Exchange Commission to conduct an initial public offering.

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826