Intra-Cellular Therapies Prices Offering Of 6.90 Mln Shares At $43.50/shr

(RTTNews) - Intra-Cellular Therapies Inc. (ITCI), a biopharmaceutical company, announced the pricing of its underwritten public offering of 6.90 million shares of its common stock at a public offering price of $43.50 per share.

All of the shares in the offering will be sold by Intra-Cellular Therapies. Net proceeds to Intra-Cellular Therapies from the sale of the shares, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $284.7 million.

Intra-Cellular Therapies has granted the underwriters a 30-day option to purchase up to an additional 1.04 million shares on the same terms and conditions.

The expected net proceeds to Intra-Cellular Therapies referenced above do not include any net proceeds that Intra-Cellular Therapies would receive if the underwriters exercise such option. The offering is expected to close on September 28, 2015, subject to customary closing conditions.

Leerink Partners LLC, Cowen and Company, LLC, RBC Capital Markets, LLC and Guggenheim Securities, LLC are acting as joint book-running managers for the offering. Ladenburg Thalmann & Co. Inc. and SunTrust Robinson Humphrey, Inc. are acting as co-managers.