This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Galectin Therapeutics Inc. Announces Pricing Of Public Offering Of 1,159,445 Units, Listing On Nasdaq And Effectiveness Of Reverse Stock Split

Galectin Therapeutics Inc. (NASDAQ: GALT) today announced the pricing of an underwritten public offering of 1,159,445 units at a price to the public of $9.00 per unit, with each unit consisting of two common voting shares, par value $0.001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock. Galectin has also granted the underwriters a 45-day option to purchase up to an additional 173,916 units to cover over-allotments, if any. Galectin is conducting the offering pursuant to an effective shelf registration statement under the Securities Act of 1933, as amended, and all of the units in the offering are to be sold by Galectin.

The offering is expected to close on March 28, 2012, subject to customary closing conditions.

The units will begin trading on The NASDAQ Capital Market on March 23, 2012, under the symbol “GALTU”. The units may not be separated into the underlying shares of Common Stock and warrants until the earlier of (1) the exercise in full of the underwriters’ over-allotment option or (2) forty-five (45) days from the date of the final prospectus supplement related to the offering; and thereafter, the units may be separable only upon the request of a holder. Each warrant will have an initial exercise price of $5.63 per share, will be exercisable upon separation of the units and will expire five years from the closing of this offering. When separately transferable, the warrants will trade on The NASDAQ Capital Market under the symbol “GALTW”.

The gross proceeds to Galectin from this offering are expected to be $10,435,005 (assuming no exercise of the underwriters’ over-allotment option), before deducting underwriting discounts and commissions and other estimated offering expenses payable by Galectin. Galectin intends to use the net proceeds from the offering to fund its research and development activities, for working capital and other general corporate purposes and possibly acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.28 -0.95%
FB $117.95 0.44%
GOOG $697.50 0.74%
TSLA $228.35 -1.70%
YHOO $35.91 -0.28%


Chart of I:DJI
DOW 17,652.67 -98.24 -0.55%
S&P 500 2,047.71 -15.66 -0.76%
NASDAQ 4,720.15 -43.0740 -0.90%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs