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Martek Raises $85 Million From Stock Offering
May 26, 2003
1 Min Read
Martek Raises $85 Million From Stock Offering
COLUMBIA, Md.--Martek Biosciences Corp. (NASDAQ:MATK)closed on its sale of 2.9 million shares of common stock at a public offeringprice of $30.25 per share. Martek's recently retired president, Richard J.Radmer, also sold 315,000 shares of common stock under the offering. The companyreceived approximately $83 million from the entire sale, and an additional $2million in net proceeds from the exercise of stock options by Radmer.
The company plans to use the proceeds to fund general companycosts and expansion.
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