Melinta Therapeutics said it closed its public offering of common stock for gross proceeds of $123.2 million.
The New Haven, Conn.-based company sold 22 million common shares in the offering, with underwriters fully exercising their option buy an additional 2,640,000 shares.
Melinta intends to use the net proceeds from the offering for general corporate purposes, payment of milestones related to European approval of Vabomere, to fund the acquisition of The Medicines Co.'s infectious disease unit as well as for working capital.
J.P. Morgan and Jefferies acted as joint book runners for the offering and Cantor Fitzgerald & Co. acted as the lead manager.
