Cytel Corp. underwriters have exercised their overallotmentoption to purchase 320,000 additional shares of common stock(NASDAQ:CYTL) at $7.50 per share, less the underwritingdiscount.
The San Diego company completed its offering Feb. 9, raising$21 million through the sale of 2.8 million shares -- 300,000more shares than proposed in the Jan. 14 filing.
Cytel has 15.8 million shares outstanding and 17.9 millionshares on a fully diluted basis. Co-managers of theunderwriting group are Goldman, Sachs & Co., Alex. Brown &Sons Inco. and Vector Securities International Inc.
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