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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tuesday, November 24, 3:00 PM

Slide #7. 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. Through its partner company, Co. markets the following dermatology products: Ximino®, which treats only inflammatory lesions of non-nodular moderate to severe acne vulgaris; Targadox®, which is used as adjunctive therapy for severe acne; Exelderm®, which treats tinea infection; Ceracade®, which is used to treat dry skin conditions and to manage and relieve the burning and itching associated with various types of dermatitis and radiation dermatitis; ad Luxamend®, which is used for the dressing and management of superficial wounds, minor abrasions, dermal ulcers, donor sites, first- and second-degree burns, and radiation dermatitis.

Preferred: FBIOP


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Name:  Fortress Biotech Inc
Website:  www.fortressbiotech.com
Sector:  Drugs & Pharmaceuticals
Number of ETFs Holding FBIO:  13 (see which ones)
Total Market Value Held by ETFs:  $13,055,645
Total Market Capitalization:  $265,000,000
% of Market Cap. Held by ETFs:  4.93%
 

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