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SMALL BUSINESS
Rigel Pharma to sell 6M shares in public offering
AP ONLINE
posted: 71 DAYS 8 HOURS AGO
SOUTH SAN FRANCISCO, Calif. (AP) — Rigel Pharmaceuticals Inc. said Wednesday it plans to offer 6 million shares of the company in a public offering.
The development-stage biotechnology company said it expects to grant underwriters an option to buy an additional 900,000 shares to cover over-allotments.
Rigel did not indicate how it would use net proceeds from the sale.
Credit Suisse Securities (USA) LLC will be acting as the sole book-runner for the offering, with Oppenheimer&Co. Inc. and Thomas Weisel Partners LLC acting as co-managers.
Shares of Rigel fell 44 cents, or 5.7 percent, to $7.22 in after-hours trading following the announcement of the offering. During the regular session, the stock climbed 5 cents to close at $7.66.
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