Business
Rockwell Medical Announces Pricing of $7.5 Million Public Offering of Common Stock
WIXOM, Mich., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Rockwell Medical, Inc. (Nasdaq:RMTI) (“Rockwell Medical” or the “Company”), a biopharmaceutical company
About this update from Rockwell Medical, Inc.
[{"type":"text","content":"WIXOM, Mich., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Rockwell Medical, Inc. (Nasdaq:RMTI) (“Rockwell Medical” or the “Company”), a biopharmaceutical company dedicated to transforming anemia management and improving outcomes for patients around the world, today announced the pricing of its underwritten public offering of 3,191,489 shares of its common stock for gross proceeds of approximately $7.5 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Rockwell Medical. The offering is expected to close on or about February 6, 2020, subject to customary closing conditions. In addition, Rockwell Medical has granted the underwriter a 30-day option to purchase up to 478,723 additional shares of common stock.\n Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering. The underwriter may offer the shares from time to time for sale in one or more transactions on The Nasdaq Global Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. On February 3, 2020, the last sale price of the shares as reported on The Nasdaq Global Market was $2.78 per share. Rockwell Medical anticipates using the net proceeds from the offering for the commercialization of Dialysate Triferic and I.V. Triferic, research and development and general corporate purposes. The securities described above are being offered by Rockwell Medical pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement and the accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th floor, New York, NY 10022; Email: [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawfu...