On March 11, 2014 TG Therapeutics announced it has priced an underwritten sale of 2,702,809 shares of its common stock at $6.71 per share, the closing price on March 11, 2014, to JP Morgan Asset Management’s Global Healthcare Fund. Gross proceeds from the sale are expected to be approximately $18.1 million (Press release TG Therapeutics, MAR 11, 2014, View Source [SID:1234500264]). TG Therapeutics intends to use the proceeds from the offering to fund the clinical development of TG-1101 and TGR-1202 and other general corporate purposes. The offering is expected to close on or about March 17, 2014, subject to customary closing conditions.
Michael S. Weiss, the Company’s Executive Chairman and Interim Chief Executive Officer, commented on the transaction, "We are very excited to have consummated this financing with a premier biotechnology investor. The proceeds from the financing and existing cash provide us with funding to support our current and planned clinical programs for the next several years as well as flexibility to opportunistically acquire additional complimentary products or technologies."

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