ZIOP - Ziopharm Secondary And Other News: The Good Bad And Ugly Of Biopharma
Ziopharm Oncology (ZIOP) announced its plan to issue equity shares. The company reported that it plans to issue nearly 27.8 million shares, not including underwriters’ overallotment which will likely result in the issue of additional 4.2 million shares. The issue will be priced at $3.25 apiece, significantly lower than the current market price of the stock. The announcement led to the company stock tumbling in the market.
Ziopharm anticipates that the gross proceeds from the issue, before deducting underwriting discounts, commissions and offering expenses will be close to $90.4 million. The company intends