NEW YORK – Opko Health announced after the close of the market on Tuesday that it intends to publicly offer up to $100 million of its common shares.
The Miami-based company has not priced the offering yet.
Opko intends to grant the offering's underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares to be sold in the offering. Jefferies, Piper Jaffray, and Guggenheim Securities will be the joint book-running managers.
Opko said that net proceeds from the offering will go toward funding R&D and commercialization of its proprietary pharmaceutical and diagnostic products, as well as for working capital, capital expenditures, acquisitions, and other general corporate purposes.