NEW YORK, Aug. 16 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. (Nasdaq: DCTH) (the "Company"), today announced the sale of 5,185,000 shares of its common stock pursuant to an underwriting agreement with Canaccord Genuity acting as the sole bookrunner. The last reported sale price of the Company's common stock as reported by the Nasdaq Capital Market on August 16, 2010 was $7.15 per share.
The Company expects to use the net proceeds from the sale of the shares for funding of its clinical trials, research and development, obtaining regulatory approvals, manufacturing, operations, sales, commercialization of its products and other general corporate purposes, including capital expenditures and working capital. Closing of the offering is expected to occur on or about August 20, 2010, subject to customary closing conditions. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 777,750 shares of common stock to cover over-allotments, if any.
The offering is being made pursuant to an effective shelf registration statement. Before you invest, you should read the base prospectus in such shelf registration statement, the prospectus supplement, when available, and other documents the Company has filed with the Securities and Exchange Commission for more complete information about the Company and this offering. The offering may be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by sending a request to the offices of Canaccord Genuity, Attn: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, phone: (800) 225-6201. Alternatively, you may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell, or
|SOURCE Delcath Systems, Inc.|
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