Peregrine Pharmaceuticals Announces Public Offering of Series E Preferred Stock
4:01p ET February 5, 2014 (Market Wire)
Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM) (the "Company"), announced today that it intends to offer and sell shares of its newly-designated 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock"), in an underwritten public offering. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of the Series E Preferred Stock. All of the shares in the proposed offering are to be sold by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes. The Company has filed an application to list the Series E Preferred Stock on the NASDAQ Stock Market, LLC.
MLV & Co. LLC is acting as sole book-running manager; Maxim Group LLC and National Securities Corporation are acting as co-managers for the proposed offering.
The offering will be made pursuant to the Company's existing effective shelf registration statement, previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained by contacting:
MLV & Co. LLC 1251 Avenue of the Americas, New York, NY 10020
Attention: Randy Billhardt, email: rbillhardt@mlvco.com Telephone: (212) 542-5882.
