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Strong Buy (4.00 out of 4)
92nd percentile
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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, March 29, 7:05 AM
Slide #146. Fortress Biotech, Inc. — Preferred Stock Offering
Company: |
Fortress Biotech, Inc. (NASDAQ:FBIO) |
Date announced: |
11/25/2019 |
Shares Offered: |
262,500 |
Date of Pricing: |
11/25/2019 |
Price Per Share: |
$20.00 |
Preferred Stock Offering Details: |
Fortress Biotech, Inc. (Common Stock: Nasdaq: FBIO) (Preferred Stock: Nasdaq: FBIOP) ("Fortress"), an innovative biopharmaceutical company focused on identifying, in-licensing and developing high-potential marketed and development-stage drugs and drug candidates, today announced that it has priced an underwritten public offering of 262,500 shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock at a price of $20 per share, with expected gross proceeds to Fortress of approximately $5.3 million. In addition, Fortress has granted the underwriters a 45-day option to purchase up to 39,375 additional shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about November 29, 2019, 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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