Intra-Cellular Therapies Prices Public Offering Of 6.85 Mln Shares At $73.00/shr

(RTTNews) - Intra-Cellular Therapies Inc. (ITCI) said that it has priced its underwritten public offering of 6.85 million shares of its common stock at a public offering price of $73.00 per share.

ITCI closed Wednesday's regular trading at $76.69 down $3.15 or 3.95%. In the after-hours trading, the stock further dropped $0.99 or 1.29%.

The company expects gross proceeds from the offering to be $500.0 million before deducting underwriting discounts and commissions and offering expenses.

Intra-Cellular Therapies has granted the underwriters a 30-day option to purchase up to an additional 1.03 million shares on the same terms and conditions.

The offering is expected to close on April 22, 2024.