Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Savient Pharmaceuticals, a specialty biopharmaceutical company, has entered into definitive agreements with select existing and new institutional investors to sell 5.93 million units consisting of one share of its common stock, $0.01 par value per share, and one warrant to purchase 0.85 shares of its common stock in a registered direct offering.
Subscribe to our email newsletter
The company expects to earn gross proceeds of approximately $31 million, before deducting placement agent’s fees and estimated offering expenses. The investors have agreed to purchase the units for a negotiated price of $5.23 per unit.
The closing of the offering is expected to take place on or about April 8, 2009, subject to customary closing conditions. Lazard Capital Markets served as the sole placement agent in connection with the offering.