Sicor Inc. Nets $203 Million in Stock Offering
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A Times Staff Writer
Sicor Inc. said it netted $203 million from a secondary stock offering.
The Irvine generic-drug maker offered 23 million shares priced at $18.50 a share, but 11.5 million shares were sold by an affiliate of Chief Executive Carlo Salvi.
Sicor said it plans to use proceeds for general corporate purposes, including working capital, capital expenditures and acquisitions. The stock closed Wednesday at $19.11, off 79 cents a share, in Nasdaq trading.
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