Corautus Genetics Inc. Announces Pricing of Equity Offering
March 10 2006 - 8:06AM
PR Newswire (US)
ATLANTA, March 10 /PRNewswire-FirstCall/ -- Corautus Genetics Inc.
(NASDAQ:VEGF) today announced it has priced its offering of
7,500,000 shares of common stock at a public offering price of
$3.85 per share. The common stock is expected to be issued on March
15, 2006, subject to customary conditions. Corautus expects to
receive net proceeds of approximately $26.5 million from the
offering and will use the net proceeds for working capital and for
other general corporate purposes including funding our clinical
trials and manufacturing costs. Corautus has granted the
underwriters an option to purchase an additional 1,125,000 shares
of common stock to cover over- allotments, if any. Lazard Capital
Markets LLC is the lead manager and sole book-runner for the
offering. Jefferies & Company, Inc. is the co-lead manager. The
final prospectus supplement has been filed today with the U.S.
Securities and Exchange Commission. Copies of the final prospectus
supplement relating to the offering may be obtained by contacting
Lazard Capital Markets LLC at 30 Rockefeller Plaza New York, NY
10020 or (212) 632-6000. This communication shall not constitute an
offer to sell or the solicitation of an offer to buy the
securities, nor shall there be any sale of the securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. CONTACTS:
Michael K. Steele Corautus Genetics Inc. 404-526-6212 Kim Golodetz
Lippert/Heilshorn & Associates 212-838-3777 Bruce Voss
Lippert/Heilshorn & Associates 310-691-7100 DATASOURCE:
Corautus Genetics Inc. CONTACT: Michael K. Steele, of Corautus
Genetics Inc., +1-404-526-6212, ; Kim Golodetz, +1-212-838-3777, ,
or Bruce Voss, +1-310-691-7100, , both of Lippert/Heilshorn &
Associates for Corautus Genetics Inc. Web site:
http://www.corautus.com/
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