Navidea Biopharmaceuticals Inc., a Dublinc-based maker of precision immunodiagnostic agents and immunotherapeutics, has priced its previously announced public offering of 8 million shares of common stock at $0.75 per share. Navidea intends to use the proceeds to fund its R&D programs and for general working capital purposes and other operating expenses.
Navidea has also granted the underwriter, H.C. Wainwright & Co., a 30-day option to purchase up to an additional 1.2 million shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about June 18, 2019, subject to customary closing conditions.
The gross proceeds are expected to be $6 million (or $6.9 million if the underwriter exercises in full its purchase option), prior to deducting underwriting discounts and commissions and other estimated offering expenses.