Since Piper's over allotment of 930k shares are on 90 day restriction, is there any contract possible for VCEL to hold back news until the restriction comes off ? Is that possible ?
The shares include 930,000 shares of common stock sold pursuant to the over-allotment option granted by the Company to the underwriters, which option was exercised in full. Vericel anticipates using the proceeds from the offering to support the commercialization of MACI, expend promotional efforts for Epicel, expand and optimize manufacturing and for other general corporate purposes.
Piper Jaffray & Co. acted as the sole manager for the offering.