Stock Offerings: Sino Clean Energy
Sino Clean Energy said it will offer up to $35 million in common stock, with net proceeds to be used to expand its CWSF production capacity at new and existing facilities in China.
Shares of Sino Clean Energy dropped by $1.14, or 14.3%, to $6.86.
Elsewhere, Celsion (CLSN) shares were on the rise after the drug maker said it has secured a committed equity financing facility under which it may sell up to $15 million of common stock to Small Cap Biotech Value over the next two years.Celsion said it will issue shares to Small Cap Biotech at a pre-negotiated discount (between 5% to 6%) to the volume weighted average price of Celsion's common stock over a preceding period of trading days. Celsion shares were lately up 1.2% to $3.48. Duke Realty (DRE) said it has priced a public offering of 23 million shares of common stock at $11.75 per share, a 5.9% discount to Wednesday's closing price. Underwriters were granted a 30-day option to purchase up to 3.45 million additional shares to cover over allotments. Duke Realty said net proceeds will be used to fund the recently announced acquisition of its partner's 50% interest in the Dugan Realty, L.L.C. joint venture, to repay debt and for general corporate purposes. Shares of Duke Realty were down 3.9% to $12. Discovery Laboratories (DSCO) shares plummeted after the company said it has priced a $10 million public offering of approximately 35.71 million units at 28 cents per unit. Each unit consists of one share of common stock, a five-year warrant to purchase 0.50 of a share of common stock and a short-term warrant to purchase 0.50 of a share of common stock. Shares of Discovery Labs were dropping by 31.5% to 24.5 cents. FelCor Lodging (FCH) priced an offering of 27.5 million shares of common stock at $5.50 per share, and shares were lately up 0.7% to $5.63. Underwriters were given a 30-day option to purchase up to 4.125 million additional shares. FelCor said it intends to use net proceeds of approximately $145 million to repay or repurchase mortgage debt and for acquisition opportunities.
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