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Nuvelo Issues Public Stock Offering Valued at $65M

NEW YORK, March 3 (GenomeWeb News) - Nuvelo is offering 5 million shares of its common stock at a price of $13.00 per share, the company said today.

The total value of the public offering is $65 million.

The company increased the size of the offering from 4 million shares, which it announced in February.

The underwriters of the offering have the option to purchase up to an additional 750,000 shares to cover over-allotments, the company said. UBS Securities is the sole book-running manager in the offering, while CIBC World Markets, Needham & Company, and JMP Securities are co-managers.

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