Cerus will float a new offering of common stock in an underwritten public offering.The pharma company didn't disclose the number of shares that will be offered, nor did it specify how much it intended to raise from the issue. It did say that it intends to use the funds "for clinical development and other research and development activities" connected with its key product, the INTERCEPT Blood System.
Cerus added that it might use some of the proceeds to prepay outstanding monies owed to Comerica Bank for a growth capital loan.
Cowen Group's Cowen & Co. is the sole book-running manager for the issue.
The article Cerus to Float Issue of Common Stock originally appeared on Fool.com.
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