Secondary Stock OfferingsBy The Online Investor Staff, updated Thu., Jan. 20, 11:14 PM
|This Slide: #21 of 25|
Slide #21. Avenue Therapeutics, Inc. — Secondary Offering
Avenue Therapeutics, Inc. (NASDAQ:AXTI)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Avenue Therapeutics, Inc. (NASDAQ: ATXI) ("Avenue"), a company focused on the development of intravenous ("IV") tramadol for the U.S. market, today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $2.0 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The offering equates to 1,910,100 shares at a price to the public of $1.07 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. In addition, the Company granted the underwriters a 45-day option to purchase additional shares of common stock, representing up to 15.0% of the number of the shares, solely to cover over-allotments, if any, which would increase the total gross proceeds of the offering to approximately $2.3 million, if the over-allotment option is exercised in full.
AXT is a materials science company that develops and produces compound and single element semiconductor substrates, also known as wafers. Co.'s compound substrates combine indium with phosphorous (indium phosphide (InP)) or gallium with arsenic (gallium arsenide (GaAs)). Co.'s single element substrates are made from germanium. InP is a semiconductor substrate used in fiber optic lasers and detectors, passive optical networks, telecommunication, silicon photonics, and photonic integrated circuits. Co. makes semi-insulating GaAs substrates used in making semiconductor chips in applications such as power amplifiers for wireless devices, transistors and solar cells for drones.
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Buy (3.25 out of 4)