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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 9:44 AM

Slide #22. Fortress Biotech, Inc. Preferred Stock Offering

Company: Fortress Biotech, Inc. (NASDAQ:FBIO)
Date announced: 11/1/2017
Shares Offered: 1,000,000
Date of Pricing: 11/7/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Fortress Biotech, Inc. (Nasdaq:FBIO) ("Fortress"), a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products, today announced that it intends to offer and sell shares of its Series A Cumulative Redeemable Perpetual Preferred Stock in an underwritten public offering. All of the shares to be sold in the offering will be offered by Fortress. In addition, Fortress intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares offered in the public offering. The Series A Preferred Stock has received an "A-" investment-grade rating from Egan-Jones Rating Co., an independent, unaffiliated rating agency. -updated 11/7- Fortress Biotech, Inc. (Nasdaq:FBIO) ("Fortress"), a biopharmaceutical company dedicated to acquiring, developing and commercializing novel pharmaceutical and biotechnology products, today announced that it has priced an underwritten public offering of one million shares of its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock at a price of $25.00 per share, with expected gross proceeds to Fortress of $25 million. In addition, Fortress has granted the underwriters a 30-day option to purchase up to 150,000 additional shares at the public offering price, less underwriting discounts and commissions. The offering is expected to close on November 14, 2017, subject to customary closing conditions. The Series A Preferred Stock has received an "A-" investment-grade rating from Egan-Jones Rating Co., an independent, unaffiliated rating agency.

Fortress Biotech is a biopharmaceutical company focused on acquiring, developing and commercializing pharmaceutical and biotechnology products. Co.'s product candidate is CNDO-109, a lysate (disrupted CTV-1 cells, cell membrane fragments, cell proteins and other cellular components) that activates donor Natural Killer (NK) cells. The manufacturing process for CNDO-109 activated NK cells is under development. Co. has produced a master cell bank and a working cell bank of CTV-1 cells in collaboration with BioReliance Corp, and Co. has contracted with Progenitor Cell Therapy, LLC and WuXi AppTec for services related to development, manufacture and testing services.
Open the FBIO Page at Ru Back Packer »

Name: Fortress Biotech Inc
Website: fortressbiotech.com
Sector: Drugs & Pharmaceuticals
Number of ETFs Holding FBIO: 9 (see which ones)
Total Market Value Held by ETFs: $4,520,513
Total Market Capitalization: $205,000,000
% of Market Cap. Held by ETFs: 2.21%

Open the FBIO Page at Ru Back Packer (in a new window) »

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