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news.Targacept has priced its underwritten public offering of 3.8 million shares of common stock at $7.07 per share.
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Targacept has granted to the underwriters for the offering, a 30-day option to purchase up to 570,000 additional shares of common stock to cover over-allotments, if any. All of the shares are being offered by Targacept. The closing of the offering is expected to take place on January 23, 2008, subject to satisfaction of customary closing conditions.
Deutsche Bank Securities is the sole book-running manager for the offering. Lazard Capital Markets, Oppenheimer & Co. and Pacific Growth Equities are co-managers for the offering.