York County-based Unilife Corp. has closed on the sale of nearly 12.7 million shares of its common stock at a price of $3.75 per share, the company announced today.
The maker of injectable drug delivery systems said it expects net proceeds to total $44.7 million.
This comes on the heels of last week’s announcement that Unilife would sell 11 million shares, hoping to net $38.8 million.
Prior to the closing, underwriters exercised their option to purchase an additional 1.65 million shares.
Unilife said it plans to use the money for investments in its plant, equipment, systems and personnel to further develop its manufacturing and operational capabilities to meet current and future customer orders, as well as general corporate purposes. The latter includes working capital, acquisitions and other business opportunities.
The company trades its stock on the NASDAQ under the ticker symbol UNIS. The stock was trading at $3.93, as of 11:15 a.m., according to Yahoo Finance.