Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, September 13, 12:50 PM
| This Slide: #160 of 668 |
Slide #160. 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, Inc. is a biopharmaceutical company focused on acquiring and advancing assets. Co. has seven marketed prescription pharmaceutical products and over 25 programs in development at the Co., at its majority-owned and majority-controlled partners and subsidiaries and at partners and subsidiaries it founded and in which it holds significant minority ownership positions. Such product candidates span six market areas, including oncology, rare diseases and gene therapy. Its dermatology products include Qbrexza, Accutane, Amzeeq, Zilxi, Targadox, Exelderm and Luxamend.
Preferred: FBIOP
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