Catalyst Pharma To Sell 8.8 Mln Shares At $1.72/shr Through Public Offering

(RTTNews) - Catalyst Pharmaceutical Partners Inc. (CPRX) announced that it has entered into definitive agreements to sell 8.8 million shares of its common stock in a registered direct public offering. The offering price for each share of common stock is $1.72, resulting in gross proceeds of approximately $15.1 million.

The closing of this offering is expected to take place on or about September 10, 2013, subject to satisfaction of customary closing conditions.

The company noted that it expects to use the net proceeds from this offering to fund costs associated with the company's product development efforts for Firdapse, and for general corporate purposes.