trending Market Intelligence /marketintelligence/en/news-insights/trending/cvubr0gj8yycgpumzhmtaq2 content esgSubNav
In This List

Melinta Therapeutics plans $75M common stock offering

Case Study

Identifying PPE Suppliers During the Pandemic

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective


Melinta Therapeutics plans $75M common stock offering

Melinta Therapeutics Inc. started an underwritten public offering of its common shares to raise about $75 million in gross proceeds.

Some of the company's principal and other shareholders and certain directors and executive officers said they are interested in buying up to $50 million of the common shares.

The commercial-stage pharmaceutical company also plans to grant the underwriters an option to buy up to an additional $11.3 million of shares.

Melinta plans to use net proceeds to invest in its antibiotics portfolio and supply chain and for general corporate purposes. Proceeds will also be used to fund future milestone payments, mainly related to potential approval of its urinary tract infection drug Vabomere for European commercialization and payments to The Medicines Co. as part of the acquisition of its infectious disease unit.

J.P. Morgan and Jefferies are acting as joint book runners for the offering, with Cantor Fitzgerald & Co. as lead manager.

New Haven, Conn.-based Melinta Therapeutics develops and sells antibiotics to treat serious bacterial infections.