Angiotech Pharmaceuticals, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Developer of medical device coatings and treatments for chronic inflammatory diseases plans a secondary offering of 1.75 mil. common shares. The Vancouver, British Columbia firm has filed a preliminary short form prospectus with SEC under the multi-jurisdictional disclosure system for the proposed offering, which will take place in the U.S. and certain Canadian provinces. Angiotech stock, which commenced trading on the Nasdaq exchange Feb. 17 (1"The Gray Sheet" Feb. 21, p. 21), also continues to trade on the Toronto exchange. The offering will be jointly lead-managed by Deutsche Banc Alex Brown and Merrill Lynch, with U.S. Bancorp Piper Jaffray as co-manager. In Canada, Loewen, Ondaatje, McCutcheon Limited and Yorkton Securities will also act as members of the underwriting syndicate. Underwriters will have an overallotment option to purchase up to an additional 262,500 shares
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Angiotech Pharmaceuticals, Inc.
Developer of medical device coatings and treatments for chronic inflammatory diseases prices secondary offering of 1.75 mil. common shares at $53.50 per share for anticipated gross proceeds of $93.6 mil. The Vancouver, British Columbia firm will use the money to fund ongoing evaluation of its systemic paclitaxel drug for secondary progressive multiple sclerosis and other development expenses. The offering is expected to close March 22 (1"The Gray Sheet" Feb. 28, p. 11)
Angiotech Pharmaceuticals, Inc.
Developer of medical device coatings and treatments for chronic inflammatory diseases prices secondary offering of 1.75 mil. common shares at $53.50 per share for anticipated gross proceeds of $93.6 mil. The Vancouver, British Columbia firm will use the money to fund ongoing evaluation of its systemic paclitaxel drug for secondary progressive multiple sclerosis and other development expenses. The offering is expected to close March 22 (1"The Gray Sheet" Feb. 28, p. 11)
Angiotech
Stock begins trading on the Nasdaq exchange Feb. 17 under the symbol "ANPI." The developer of pharmaceutical coatings for medical devices has around 13.4 mil. shares outstanding. For the fiscal year ended Sept. 30, 1999, Angiotech reported revenues of $4.5 mil., up 119%, while the company's net loss grew 48% to $9.9 mil