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Peregrine Pharmaceuticals sells Series E preferred shares, nets $18.3mm

Executive Summary

Peregrine Pharmaceuticals Inc. (monoclonal antibodies for cancer) netted $18.3mm through the public sale of 775k of its 10.50% Series E preferred shares (including partial overallotment exercise) at $25 each; the shares convert in whole or in part up to an aggregate amount of 20.3mm common at $3 apiece. (Peregrine's stock averaged $1.78 at the time of the sale.)
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • FOPO

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