Financings in Brief: Diatide
This article was originally published in The Gray Sheet
Executive Summary
Diatide: Planning to use proceeds of a proposed initial public offering to fund "research and product development, preclinical studies and clinical trials, to repay bank debt and for general corporate purposes." The radiopharmaceutical manufacturer filed a registration statement with SEC for 2.5 mil. shares of common stock for an anticipated price of between $10-$12 per share. The offering reflects an anticipated 6-for-10 stock split, after which the company would have approximately 10.5 mil. shares outstanding. Underwriters Dillon, Read & Co. and Oppenheimer & Co. have been granted an option to purchase up to 375,000 additional shares to cover over-allotments...