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MacroGenics prices $95.6M common stock offering

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MacroGenics prices $95.6M common stock offering

MacroGenics Inc. priced its public offering of 4.5 million common shares at $21.25 apiece to raise gross proceeds of about $95.6 million.

The Rockville, Md.-based biopharmaceutical company focused on developing monoclonal antibody-based cancer medicines granted the underwriters an option to buy up to an additional 675,000 shares.

MacroGenics intends to use the net proceeds, plus its existing cash and cash equivalents, for general corporate purposes and working capital needs in line with its business plan.

The offering is expected to close April 2, subject to customary closing conditions.

Leerink Partners, Deutsche Bank Securities and Evercore Group LLC are acting as joint book-running managers, while Stifel, Nomura and SunTrust Robinson Humphrey are acting as lead managers for the offering. H.C. Wainwright & Co. is acting as co-manager.