Windtree Therapeutics Inc (WINT)

[deepman49]

Discovery Labs Announces Completion of $45.0 Million Public Offering

Discovery Laboratories, Inc. today announced that it has completed its previously announced public offering to sell an aggregate of 16,071,429 shares of its common stock under Discovery Labs' previously filed registration statement that was declared effective by the Securities and Exchange Commission on June 21, 2011.

The offering remains subject to the underwriters' 30-day option to purchase up to an additional 2,410,714 shares of common stock to cover over-allotments, if any. Each share was issued and sold at a public offering price of $2.80 per share.

As a result of the offering, Discovery Labs has received net proceeds of approximately $42.1 million, after deducting underwriting discount and other estimated fees and expenses related to the offering. The net proceeds will be used to meet working capital requirements to execute Discovery Labs' business plans, including, without limitation, to support the commercial introduction in 2012 of SURFAXIN® and AFECTAIR®, and to advance its SURFAXIN LS™ and AEROSURF® development programs.

Lazard Capital Markets LLC acted as the sole book-running manager for the offering, Stifel Nicolaus Wesiel acted as co-lead manager, and ROTH Capital Partners LLC acted as co-manager.