Several companies are tapping the equity markets today.
Medical device maker Stereotaxis, whose products treat coronary artery disease and arrhythmias, announced Friday it is selling 6.5 million shares for $4 each.
Underwriters have the option to purchase up to 975,000 additional shares, and the company expects the offering to close Thursday. Proceeds are to be used for sales, marketing, and other purposes.
Shares of Stereotaxis are trading up over 1.8 percent this morning.
Pharmaceutical company Savient is execting to raise $52.9 million by selling 4.3 million shares at Thursday's closing price of $13.29 per share.
Underwriters will be able to buy an additional 645,000 shares of 30 days. The company intends to use the proceeds to fund regulatory applications for Krystexxa, a new drug to treat chronic gout. The offering is also expected to close Thursday.
Savient shares are trading up nearly eigh percent this morning.
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