Delcath Systems, Inc. Announces the Completion of Common Stock Offering
NEW YORK, July 20, 2011 /PRNewswire/ -- Delcath Systems, Inc. (NASDAQ: DCTH) today announced it has closed its previously announced offering of 5,000,000 common shares at a price to the public of $5.05 per share. Delcath has granted Jefferies & Company, Inc., the sole book-runner for the offering, an over-allotment option to purchase up to an additional 750,000 common shares on the same terms and conditions for up to 30 days after the date of the offering, July 14, 2011.
Delcath received proceeds, net of offering expenses and underwriting discounts and commissions, of approximately $23.5 million. The Company intends to use the net proceeds from the sale of the shares for general corporate purposes, including, but not limited to, commercialization of its products, obtaining regulatory approvals, funding of its clinical trials, capital expenditures and working capital.
The offering was made pursuant to an effective shelf registration statement. Before you invest, you should read the base prospectus in such shelf registration statement, the prospectus supplement, when available, and other documents the Company has filed with the Securities and Exchange Commission for more complete information about the Company and this offering. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to the offices of Jefferies & Company, Inc., Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022 or at (888) 449-2342. Alternatively, you may get these documents for free by visiting EDGAR on the SEC website at http://www.sec.gov/.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in