Tekmira Pharma Prices Public Offering Of 2.12 Mln Shares At $28.50/Shr

(RTTNews) - Tekmira Pharmaceuticals Corp.(TKMR, TKM.TO), a developer of RNA interference or RNAi therapeutics, announced that it has priced an underwritten public offering of 2.125 million shares of its common stock at a price of $28.50 per share for aggregate gross proceeds of US$60.56 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

Tekmira has also granted the underwriters a 30-day option to purchase up to an additional 318,750 shares to cover over-allotments, if any, which would result in additional gross proceeds. The offering is expected to close on or about March 18, 2014, subject to the satisfaction of customary closing conditions.

Tekmira anticipates using the net proceeds from this offering to develop and advance product candidates through clinical trials, as well as for working capital and general corporate purposes.