New offering.Wall Street reacted favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to MannKind Corp.'s announcement of a public sale of 20 million common shares in a new offering priced at $17.42 apiece a·piece adv. To or for each one; each: There is enough bread for everyone to have two slices apiece. [Middle English a pece : a, a; see a . The Valencia-based drug developer's largest stockholder, founder and Chief Executive Alfred E. Mann Alfred E. Mann (born 1925, Portland, OR), who is also known as Al Mann, is an American entrepreneur and philanthropist. He is a billionaire. Born and raised in Portland, his father was English and mother Polish. , plus other officers and directors, have committed to purchasing about 5.8 million shares. In addition, MannKind said it would sell $100 million in senior convertible notes at 3.75 percent interest in an underwritten public offering. None of those notes, due 2013, would be sold to Mann or other company officers or directors. MannKind's lead product candidate is an inhaled in·hale v. in·haled, in·hal·ing, in·hales v.tr. 1. To draw (air or smoke, for example) into the lungs by breathing; inspire. 2. insulin system that is in late stage clinical trials. The company has a public float of 23.5 million shares, with roughly another 26.5 million held by Mann and other insiders. |
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