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Thursday, Mar 28, 2024

MannKind Generates Cash

The Valencia drug maker MannKind Corp. said it plans to offer 17.5 million shares of stock and $100 million in senior convertible notes in separate public offerings. MannKind plans to provide underwriters with a 30-day option to buy up to 2.6 million more shares to cover over-allotments for its stock offer. On the notes earning side, the company plans to give underwriters a 13-day option to purchase up to $15 million in additional notes to cover over-allotments, the company said. Underwriters include Merrill Lynch and JP Morgan Securities, which has reserved up to 8.8 million shares and $50 million in notes for sale to MannKind CEO Aldred Mann.

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