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Opko Health plans $100M common stock offering

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Opko Health plans $100M common stock offering

OPKO Health Inc. plans to sell up to $100 million worth of its common shares in an underwritten public offering.

The Miami-based company also plans to give underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

Opko plans to use the net proceeds to fund the development of its pharmaceutical and diagnostic products, for research and development, working capital, capital expenditures, acquisitions and general corporate purposes.

Jefferies LLC, Piper Jaffray & Co. and Guggenheim Securities LLC will be the joint book-running managers for the offering.