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news.Specialty biopharmaceutical company Neurobiological Technologies has announced the pricing of an underwritten offering of its common stock to raise $60 million in gross proceeds at a public offering price of $2.75 per share.
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All of the shares in the offering are being sold by the company. The offering is expected to close on November 2, 2007 and the company will receive approximately $55 million of net offering proceeds, after underwriting discounts and estimated costs.
Merriman Curhan Ford & Co. acted as the sole book-running manager in this offering, and Dawson James Securities, acted as co-manager.