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news.Targacept has completed $30.9 million underwritten public offering of shares of its common stock.
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The completed offering included 570,000 shares purchased by the underwriters upon exercise of their overallotment option. Targacept issued and sold a total of 4.37 million shares in the offering, resulting in gross proceeds, before deducting underwriting discounts, commissions and offering expenses, of $30.9 million.
Deutsche Bank Securities was the sole book-running manager for the offering. Lazard Capital Markets, Oppenheimer & Co. and Pacific Growth Equities were co-managers for the offering.