December 16, 2009 (FinancialWire) — SIGA Technologies, Inc. (NASDAQ: SIGA), a company specializing in the development of pharmaceutical agents to fight biowarfare pathogens, announced the closing of its offering of 2,725,339 shares of common stock to a select group of institutional investors at a price of $7.35 per common share.

Net proceeds to the company after deducting the placement agent’s fees and estimated offering expenses are approximately $18.6 million. As previously disclosed, SIGA plans to use the net proceeds from the sale of the shares for general corporate purposes, including development of the company’s product candidates, the acquisition or in-license of technologies, products or businesses, working capital and capital expenditures.

RBC Capital Markets served as lead placement agent and Cowen and company, LLC acted as co-agent.

The shares were sold by SIGA pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on November 18, 2009.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.