The company is selling 6.7M ADS’s consisting of an underwritten offering of 5M shares and a rights offering for the rest.
A selling shareholder will sell 750K ADS’s should the underwriters exercise their greenshoe option.
Pfizer (NYSE:PFE) has indicated interest in purchasing up to $200M worth of the new stock, which would work out to about 2.25M shares at the current price.
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