AcelRx to Float Stock Issue

Before you go, we thought you'd like these...
Before you go close icon

AcelRx is going to market for a fresh round of funding. The company announced it will float shares of its common stock in an underwritten public flotation. Additionally, the firm expects to grant the issue's underwriters a 30-day purchase option for up to an additional 15% of the total amount of the shares in the offering.

In a prospectus filed with the SEC, AcelRx revealed that it intends to use the proceeds of the issue for commercialization and regulatory approval efforts regarding Zalviso. This is a treatment the company says is "designed to solve the problems associated with post-operative intravenous patient-controlled analgesia."

It will also utilize the funds as working capital, and for "other corporate purposes."

Leucadia's Jefferies and Piper Jaffray are the joint-book running managers of the issue.

At the moment, AcelRx has 37.2 million shares outstanding, and its stock most recently closed at $11.92 per share.

The article AcelRx to Float Stock Issue originally appeared on

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

People are Reading