TG Therapeutics Prices Stock Offering

(RTTNews) - TG Therapeutics, Inc. (TGTX) said Thursday that it has priced an underwritten public offering of 5.7 million shares of its common stock at a price of $6.15 per share.

The company has also granted to the underwriters a 30-day option to acquire an additional 855,000 shares to cover overallotments in connection with the offering.

After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of about $32.5 million, assuming no exercise of the overallotment option.

The offering is expected to close on July 23.

TG Therapeutics plans to use the net proceeds from the public offering to fund the clinical development of TG-1101 and TGR-1202 and other general corporate purposes.