NEW YORK, Feb. 27 - Orchid BioSciences on Wednesday said it has pocketed approximately $20 million in a special stock offering announced last week.
Orchid said it sold 8 million shares of common stock that were offered through a prospectus supplement in-line with the company's shelf-registration.
Robertson Stephens acted as the underwriter of the offering, and Orchid has granted the financial firm the option to buy as many as 1.2 million more. If taken, this option would dump $3 million more into Orchid's pot.