Offerings Drive Down Shares of SIGA, BHB, PNNW Thursday, December 10, 3:52 PM ET
SIGA Technologies (NASDAQ:SIGA), a developer of pharmaceutical agents focused on biological warfare defense, announced it raised 20 million dollars through the sale of just over 2.7 million common shares at 7 dollars and 35 cents each. The company said the proceeds would be used in part for development of product candidates. RBC Capital Markets (NYSE:RY) served as lead placement agent for the offering. SIGA shares fell 13 and a half percent.
Bar Harbor Bankshares (AMEX:BHB) announced a 20 million dollar offering of its own, with RBC Capital Markets as sole underwriter. The company said it may seek approval to use the offering proceeds to repurchase preferred shares sold to the U.S. Treasury under the TARP program. Bar Harbor would join Citigroup (NYSE:C) among the latest banks to raise capital to repay TARP investments. Earlier this week Bank of America (NYSE:BAC) completed its repayment in full of its investment from TARP. Shares of Bar Harbor Bankshares were down a little over 7 and a half percent.
And shares of potable water company Pennichuck Corporation (PNNW) fell 10%, after the company announced it sold 350,000 common shares at 21 dollars each in an offering underwritten by Janney Montgomery Scott. The company said proceeds would be used in part to pay down debt.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.