Targacept, Inc. (NASDAQ: TRGT) announced today that it is offering to sell $75 million in shares of its common stock in an underwritten public offering. Targacept expects to grant the underwriters for the offering an option to purchase additional shares of common stock to cover over-allotments, if any.
Deutsche Bank Securities Inc. is acting as sole book-running manager for the offering. Lazard Capital Markets LLC, Leerink Swann LLC, and Oppenheimer & Co. Inc. are acting as co-managers for the offering. The offering is subject to market conditions, and there can be no assurance that the offering will be completed at any particular time, or at all, or as to the actual size or terms of the offering.