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posted: 2/16/2021 2:05 PM

Assertio raises $34 million in stock sale

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LAKE FOREST -- Pharmaceutical company Assertio Holdings Inc. said it completed its offering of common stock at 98 cents as share, raising gross proceeds of about $34.3 million.

After placement agent fees and estimated stock offering expenses, the company received net proceeds of about $32.1 million, Assertio said. The company intends to use the proceeds for general corporate purposes, including working capital.

Roth Capital Partners acted as the sole placement agent in connection with the offering.

Assertio has a robust portfolio of branded prescription products in three areas: neurology, hospital care, and pain and inflammation.