Announces Pricing of Public Offering of Common Stock
NEW YORK - September 29, 2016 (Investorideas.com Newswire) Actinium Pharmaceuticals, Inc. (NYSE: ATNM) ("Actinium" or "the Company"), a biopharmaceutical Company developing innovative targeted payload immunotherapeutics for the treatment of advanced cancers, announced today the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a price to the public of $1.25. In addition, Actinium has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock solely to cover over-allotments, if any. The offering is expected to close on or about October 4, 2016, subject to customary closing conditions.
The gross proceeds to Actinium from this offering is expected to be $10,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Actinium. Actinium currently intends to use the net proceeds from the sale of securities for general corporate purposes, including capital expenditures, the advancement of its drug candidates in clinical trials, such as Iomab™-B and Actimab™- A, preclinical trials, and to meet working capital needs.
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