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Recro Pharma To Raise Funds Via Share Sale

05/11/2021 13:45

05:28 PM EDT, 05/11/2021 (MT Newswires) -- Recro Pharma (REPH) said Tuesday that it intends to offer and sell shares of its common stock in an underwritten public offering.

Underwriters are expected to be granted a 30-day option to purchase up to an additional 15% of the shares to cover overallotments.

The company said it intends to use the net proceeds from the proposed offering for general corporate purposes.

Shares were down about 7% in the after-hours session.

Price: 2.4100, Change: -0.19, Percent Change: -7.31