Recro Pharma slumps on $30 mln stock deal

Societal CDMO

12/05/2021 14:01

** Recro Pharma Inc  REPH.O  shares down nearly 15%
premarket as contract development and manufacturing firm prices
follow-on
    ** REPH sells 13.3 mln shares at $2.25, raises $30 mln for
general corp purposes, including debt repayment, potential
acquisitions  urn:newsml:reuters.com:*:nGNX89XC2p
    ** Offering prices at 13.5% discount to stock's last sale
    ** Deal size represents about half of co's ~27.7 mln shares
of free float, per Refinitiv data
    ** William Blair sole bookrunner
    ** Shares have fallen ~9 YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))