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news.Seattle Genetics has reported that it intends to offer to sell, subject to market and other conditions, 10 million shares of its common stock in an underwritten public offering.
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The company intends to grant the underwriters a 30-day option to purchase up to an additional 1.5 million shares of its common stock to cover over-allotments. All of the shares are being offered by the company.
J P Morgan Securities and UBS Investment Bank are acting as joint book-running managers of the offering. RBC Capital Markets, Needham & Company and William Blair & Company are acting as co-managers.