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Clinical Data Raises $25M in Private Placement

Sep 29, 2008
NEW YORK (GenomeWeb News) – Clinical Data has raised $25 million through the private placement of 1,514,922 shares of newly issued common stock to affiliates of Randal Kirk, chairman of the Newton, Mass.-based firm’s board of directors.
 
Clinical Data said that the purchase price was $16.44 per share, which was its closing price on Sept. 26, plus $.0625 per share, and warrants to purchase an additional 757,461 shares of common stock at $16.44 per share.
 
The publicly traded firm said that it would use the funds for general working capital purposes.
 
Shares of Clinical Data were up .6 percent at $16.54 in early Monday trade on the Nasdaq.

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