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Strong Buy (4.00 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tuesday, April 16, 6:06 PM
Slide #112. Fortress Biotech, Inc. — Preferred Stock Offering
| Company: |
Fortress Biotech, Inc. (NASDAQ:FBIO) |
| Date announced: |
8/26/2020 |
| Shares Offered: |
666,666 |
| Date of Pricing: |
8/26/2020 |
| Price Per Share: |
$18.00 |
| Preferred Stock Offering Details: |
Fortress Biotech, Inc. (Common Stock: Nasdaq: FBIO) (Preferred Stock: Nasdaq: FBIOP) ("Fortress"), an innovative biopharmaceutical company, today announced that it has priced an underwritten public offering of 666,666 shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock") at a price of $18.00 per share, with expected gross proceeds to Fortress of approximately $12 million. In addition, Fortress has granted the underwriters a 45-day option to purchase up to 66,666 additional shares of its Series A Preferred Stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about August 31, 2020, subject to customary closing conditions. |
Fortress Biotech is a biopharmaceutical company focused on acquiring, developing and commercializing pharmaceutical and biotechnology products and product candidates. Through its partner company, Co. markets dermatology products including Qbrexza®, which is a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane® (isotretinoin) capsule, which is an oral capsule for the treatment of severe recalcitrant nodular acne; Ximino® (minocycline hydrochloride), which is an oral minocycline drug for the treatment of moderate to severe acne; as well as Targadox® (doxycycline hyclate), which is an oral doxycycline drug for adjunctive therapy for severe acne. Preferred: FBIOP
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