Biotech company Celgene Corp. (NASDAQ CELG), the maker of cancer drugs like Revlimid and Thalomid, said on Wednesday it will issue up to 20 million shares as a result of its inclusion in the S&P 500 Index <.SPX>.
The company said the purpose of the offering is to partially meet anticipated demand from index funds when the company is added to the S&P 500 Index on Nov. 3.
Proceeds from the offering will be used for general corporate purposes, including working capital, capital expenditures, possible future licenses, strategic investments and acquisitions, Celgene said.
The company said the purpose of the offering is to partially meet anticipated demand from index funds when the company is added to the S&P 500 Index on Nov. 3.
Proceeds from the offering will be used for general corporate purposes, including working capital, capital expenditures, possible future licenses, strategic investments and acquisitions, Celgene said.
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