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Alcobra Gears Up for Secondary Offering

Alcobra Ltd. (NASDAQ: ADHD) announced the pricing of its underwritten secondary offering for 6.175 million shares. All these shares will be offered up at a price of $6.50 per share, or a discount of roughly 9% from Thursday’s closing price of $7.12. The offering is expected to close on November 18 and is still subject to customary closing conditions.

The underwriters for this offering are Jefferies, Barclays, Oppenheimer, Roth Capital Partners and Cantor Fitzgerald. Alcobra also has granted these underwriters a 30-day option to purchase an additional 926,250 shares.

This is an emerging biopharmaceutical company primarily focused on the...