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Clinical Data to Net $71.5M in Offering After Underwriters Exercise Over-Allotment

Jul 24, 2007
NEW YORK (GenomeWeb News) — Clinical Data said today that underwriters in a public offering that closed yesterday have exercised an over-allotment option to buy an additional 450,000 shares of the company’s common stock.
 
Clinical Data, which announced the shelf registration on July 9, said it expects to bring in aggregate net proceeds of $71.5 million after issuing the total 3.45 million shares in the offering.
 
Clinical Data will use the proceeds from the offering to fund clinical trials, preclinical R&D, and for corporate purposes such as acquisitions, capital expenses, and working capital.

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