Vical Inc. announced Thursday that the underwriters in thecompany's follow-on offering, which it completed July 22, haveexercised their overallotment option, purchasing an additional284,500 shares of common stock (NASDAQ:VICL).
The underwriters, Hambrecht & Quist and Vector SecuritiesInternational Inc., had the option to purchase a total of 300,000shares as a result of the offering, which grossed about $14million on sales of 2 million shares at $7.
Sales of the additional 284,500 shares, also at $7, brought thetotal gross proceeds of the offering to nearly $16 million.
With the exercise of this option, Vical, a gene therapy companybased in San Diego, has 12,829,377 shares outstanding.
The company's stock closed unchanged on Thursday at $6.75 ashare.
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