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MGIC Investment

(MTG) - Get MGIC Investment Corporation Report

shares sank as it became another in a rash of companies to announce a secondary offering, saying it hopes to raise $1 billion in capital after posting yet another quarterly loss.

MGIC Investment

announced the public offerings of $700 million in common stock and $300 million convertible senior notes after the mortgage insurer reported a first-quarter loss of $1.20 a share, its 11th straight quarterly loss.

MGIC shares were lately down nearly 13% to $10.90 on the dilution fears, although the stock is still up almost 90% since the start of 2010.

Several other stocks were falling hard on stock offering announcements. Among them,



dropped 22.8% to $1.22 after the company announced a registered direct offering of common stock for gross proceeds of $10.5 billion.

Hyperdynamics will offer 8.07 million shares at $1.30 each to institutional investors, as well as warrants to purchase up to 2.82 million shares of common stock at an exercise price of $1.58 per share. Net proceeds from the offering will be used to fund a portion of the company's 3D seismic data acquisition and processing, certain short term debt and payables, working capital and general corporate purposes.

Shares of

BioDelivery Services

(BDSI) - Get BioDelivery Sciences International, Inc. Report

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sank 15.7% to $3.55 after the company said it will raise $10 million through a registered direct offering to institutional investors. BioDelivery said it will sell 2.82 million common shares at $3.54 per share. The company will also issues warrants for investors to acquire 1.41 million shares of common stock at an exercise price of $4.67 per share.

BioDelivery said proceeds from the transaction are expected be used for the continued clinical development of the company's product candidate pipeline, for general corporate and working capital purposes and to generally maintain a positive cash position during commercial partnering discussions throughout the year.


NIVS IntelliMedia Technology

( NIV) priced an offering approximately 7.29 million shares at $3.29 each for aggregate net proceeds of approximately $21.9 million, which will be used for general corporate and working capital purposes. Underwriters were granted the option to purchase up to an additional 1.09 million shares. Shares of NIVS were down 8.8% to $3.31.



also traded lower after the company filed a mixed shelf offering for up $45 million in securities. Neostem shares were sliding 7.6% to $1.83.

Monmouth R.E. Investment


priced an offering of 4 million shares of common stock at $7.50 per share for net proceeds of approximately $28.3 million, which will be used to purchase additional properties, the company said.

-- Written by Robert Holmes in Boston


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