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.