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Targacept Announces Pricing of its Initial Public Offering
04/12/2006
Targacept, Inc. (Nasdaq: TRGT) today announced the
pricing of its initial public offering of 5,000,000 shares of its common stock
at a price of $9.00 per share. All of the shares are being sold by Targacept.
Targacept has also granted to the underwriters of the offering a 30-day option
to purchase up to 750,000 additional shares of common stock to cover
over-allotments, if any. Targacept's common stock is expected to begin trading
on The NASDAQ National Market on April 12, 2006 under the symbol "TRGT."
The managing underwriters of the offering are Deutsche Bank Securities Inc.,
book-running manager, Pacific Growth Equities, LLC, co-lead, CIBC World Markets
Corp. and Lazard Frères & Co. LLC.
Copies of the final prospectus relating to the offering may be obtained from
Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention:
Syndicate Department.
About Targacept, Inc.
Targacept, Inc. is a biopharmaceutical company based in Winston-Salem, North
Carolina engaged in the design, discovery and development of a new class of
drugs to treat central nervous system diseases and disorders by selectively
targeting neuronal nicotinic receptors, or NNRs.
A registration statement relating to these securities was declared effective
by the Securities and Exchange Commission on April 11, 2006. The public offering
is being made by means of a written prospectus forming part of the effective
registration statement. This press release shall not constitute an offer to sell
or a solicitation of an offer to buy, nor will there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation, or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Alan Musso, VP and CFO
Targacept, Inc.
Tel: (336) 480-2186
E-mail:
alan.musso@targacept.com |
