North American Scientific Offering Nets $44.7 Million

North American Scientific Inc. in Chatsworth has closed a public offering of 2.5 million shares of its common stock, including 180,000 stockholder shares, at a price of $17.88 per share.

The underwriters also exercised their option to purchase an additional 375,000 shares to cover over-allotments at the same price. Gross proceeds from the offering were $51.4 million. Net proceeds to the company were approximately $44.7 million.

CIBC World Markets Corp. acted as lead manager on the offering with UBS Warburg and Leerink Swann & Co. acting as co-managers.

North American Scientific designs, develops and produces innovative radioisotopic products, including brachytherapy seeds and radiopharmaceuticals, for the treatment and diagnosis of disease.