Dyax Prices Offering Of About 9.23 Mln Shares At $6.50/Shr - Quick Facts

(RTTNews) - Dyax Corp. (DYAX) has priced an underwritten public offering of 9.23 million shares, at $6.50 per share. The gross proceeds from this offering are likely to be $60 million, before deducting the underwriting discount and other estimated offering expenses payable by Dyax. The offering may close on or about October 15, 2013.

The underwriters were granted a 30-day option to buy up to an aggregate of around 1.38 million additional common shares. Dyax plans to use the net proceeds to fund research and development activities, including the development of DX-2930, a therapeutic candidate for the prophylactic treatment of hereditary angioedema, and for general corporate purposes.

Jefferies LLC is acting as the sole book-running manager with Cowen and Company, LLC, Leerink Swann LLC and Needham & Company, LLC acting as the co-managers for the offering.