ANI Pharma Closes $50 Mln Stock Offering

(RTTNews) - ANI Pharmaceuticals, Inc. (ANIP) said Monday that it has closed its underwritten public offering of 1,612,903 shares of common stock, at a price to the public of $31.00 per share and for gross proceeds of $50.0 million.

The shares include 210,378 shares of common stock sold pursuant to the over-allotment option granted by ANI to the underwriters, which option was exercised in full.

ANI expects net proceeds of the offering will be about $46.8 million, after deducting underwriting commissions and other offering expenses.

The company expects to use the net proceeds of the offering to research, develop, commercialize and expand its drug products, to acquire complementary businesses and technologies and for working capital and general corporate purposes.